- Turkiye mills assess demand; fresh bookings remain scarce
- Pakistan market quiet; post-Eid activity still slow
South Asian imported scrap markets remained subdued on 2 June 2026, as weak steel demand, cautious buying sentiment, and poor import economics continued to limit trading activity across India, Pakistan, and Bangladesh. Meanwhile, Turkiye’s deep-sea scrap market remained largely stable amid limited fresh booking activity.
India: Imported ferrous scrap market remained weak, with trading activity staying limited as both buyers and sellers continued assessing market conditions. No major fresh deals were reported, while cautious sentiment persisted amid a wide gap between buyer expectations and supplier offers.
A Brazil-origin HMS 80:20 cargo was heard booked at around $330/t CFR India, while UK/EU-origin HMS 80:20 offers were heard near $360/t CFR and shredded scrap at $398-400/t CFR. Market participants noted that Mundra showed relatively better buying interest, with HMS offers heard around $360/t CFR for 25 t cargoes, whereas Chennai remained largely inactive. Buyers in Chennai indicated workable levels near $340/t CFR, significantly below prevailing supplier offers of $365-370/t CFR.
Pakistan: Imported scrap market remained largely subdued, with trading activity yet to recover meaningfully. Market participants reported limited buying interest, while prevailing price levels remained broadly unchanged and no major fresh developments were heard in the market.
Limited post-Eid activity was heard, with a UK-origin shredded scrap deal concluded at around $420/t CFR Pakistan. Market participants also indicated that shredded scrap at $415/t CFR is currently below workable market levels.
Bangladesh: Imported scrap market remained subdued, with buying activity limited despite a few offer indications in the market. HMS 90:10 offers were heard at $378/t CFR from Brazil and around $405/t CFR from Australia/New Zealand, while New Zealand-origin shredded was offered at $418/t CFR. Market participants also reported the latest Denmark-origin HMS 80:20 containerised deal at around $390/t CFR. Meanwhile, UK-origin shredded scrap offers were heard near $415/t CFR and HMS 80:20 around $385/t CFR Bangladesh.
Turkiye: Deep-sea import scrap market remained largely stable d-o-d at $410/t CFR, with trading activity staying limited as mills continued assessing market conditions and procurement requirements for June shipments. No major fresh bookings were heard during the day. Market sentiment remained balanced, with suppliers maintaining firm offers while buyers showed limited urgency to return to the market.
Leave a Reply