- Pakistan: Import buying limited, workable levels narrowly defined
- Bangladesh: Buying subdued despite firmer Japanese benchmarks
South Asia’s imported scrap markets remained weak on 13 January, with India, Pakistan, and Bangladesh facing subdued buying interest amid ample alternatives and high offers, while Turkiye showed relative firmness as tight supply and higher collection costs supported prices despite muted deal activity.
India: India’s imported containerised ferrous scrap market remained subdued, as abundant availability of cheaper local sponge iron weighed on both domestic and imported scrap prices, keeping overall demand weak. In the meantime, UK-origin shredded scrap was offered at around $355-358/t CFR, while HMS 80:20 was indicated near $330/t CFR.
Pakistan: Imported scrap market remained selective, with no confirmed deals concluded, although some transactions were reported around the $360/t level. Workable prices were still indicated at about $365/t CFR for EU-origin shredded and $370-375/t CFR for UAE-origin shredded, as elevated export offers continued to limit buying interest.
Overall sentiment stayed weak, with market participants describing demand as sluggish and actual buying activity very limited. However, rising international scrap prices have created upward pressure on raw material costs, which has supported a firmer billet price trend across regions despite cautious procurement.
Bangladesh: The imported scrap market remained weak, with buyers showing limited appetite. The January Kanto tender saw a win by a Chattogram-based mill after a two-month gap, signalling firmer sentiment in Japan. However, this strength failed to translate into buying interest, with Australian HMS 80:20 indicated at $340-342/t and shredded at $362-364/t.
Turkiye: Deep-sea imported scrap prices edged higher on 13 January, supported by tight availability and limited sell-side participation at the start of the week. Market participants highlighted rising stress as mills sought material amid winter-led collection constraints in Europe, where collection costs were reported in the high EUR 270s ($315/t), adding upward pressure on offers despite muted deal flow.
On the demand side, mills remained active in securing scrap, supported by firmer billet prices in the Asian market, which helped sustain buying interest. A US-origin HMS 80:20 cargo was reportedly concluded at around $373/t CFR, reinforcing the firmer tone in the Turkish import scrap market.
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