South Asia: Imported scrap markets remain quiet; prices stay largely steady across regions

• India receives limited fresh offers due to holiday-related absences
• Turkish deep-sea market remains quiet as buyers await direction

South Asia’s imported scrap markets remained subdued on 2 January 2026 due to New Year’s Day holiday-related disruptions and weak buying interest, with prices largely stable across India, Pakistan, and Bangladesh. Similarly, Turkiye’s deep-sea market stayed quiet as participants awaited clearer price direction following the holidays.

India: Trading in India’s imported containerised scrap market remained largely inactive, as holiday-led disruptions kept buyers on the sidelines and limited fresh offers from sellers. Price levels showed little movement after domestic sentimrnt rises, with European shredded holding in the low-$350s/t CFR, UK-origin HMS 80:20 in the mid-$320s/t. PNS cargoes from Hong Kong and Malaysia were heard in the upper-$350s/t CFR Chennai amid limited availability from most origins.

Australian material continued to set the lower end of the market, with HMS 80:20 indicated just above $315/t CFR and shredded and PNS in the low-to-mid $340s/t. European HMS offers from Poland hovered in the mid-$330s/t CFR, while Brazilian HMS was assessed near $325-330/t CFR Mundra, though buyers reportedly bid about $5/t below offered levels.

Pakistan: Imported scrap activity in Pakistan remained subdued amid limited buying interest. UK- and UAE-origin shredded scrap was reported at around $365-370/t CFR Qasim and $370/t CFR, while UAE-origin sheared HMS was heard near $345/t CFR.

Bangladesh: The imported scrap market in Bangladesh remained sluggish. Australian-origin PNS/busheling was indicated at around $365-370/t CFR Chattogram, while HMS 90:10 and shredded were quoted in the $350-360/t range. Indicative offers for HMS 80:20 were at $325-330/t and HMS 1 at $335-340/t CFR Bangladesh.

Turkiye: The deep-sea scrap market opened the new year on a subdued footing, with the New Year holidays keeping most participants inactive and limiting spot trading. Buyers returned following the holidays to secure fresh cargoes amid seasonal supply tightness, while offers remained firm, with European HMS 80:20 booked at $363-366/t CFR and US-origin HMS at $370-375/t CFR. However, market players were cautious, waiting for a clearer near-term price direction.