- Indian, Pak buyers wary on soft finished demand
- Turkish mills wait for clearer price direction
South Asia’s scrap markets remained slow, with India, Pakistan, and Bangladesh seeing cautious buying and weak demand. Turkiye’s market also stayed subdued, as mills awaited clearer direction and bids trailed firm offers.
Market overview
India: The imported ferrous scrap market remained sluggish, with shredded prices hovering at mid-June 2025 lows. Before June, such low levels had not been recorded earlier. Overall, buyers exercised caution, and no significant bookings were reported.
Workable offers:
HMS 80:20: $325-330/t CFR
Shredded scrap: $355-360/t CFR
At present, the market feels almost frozen, with few serious buyers and limited clarity on firm tradable levels. The ongoing rainy season continued to hamper construction activity, keeping demand for finished steel subdued.
Pakistan: Pakistan’s imported ferrous scrap market remained sluggish, with limited trading activity observed.
A recent 1,000-t deal for UK-origin shredded scrap was concluded at $378/t CFR Qasim.
Currently, offers for shredded scrap remained firm at $380-382/t CFR, while buyers stayed cautious, bidding at around $378-379/t CFR.
Bangladesh: Bangladesh’s ferrous scrap market showed little activity, as mills refrained from inviting offers, keeping trading volumes low despite some relief in freight costs.
A notable gap remains between buyers and sellers. While Bangladeshi buyers aimed for shredded scrap at around $370-372/t CFR Chattogram, UK and EU suppliers held firm, unwilling to reduce offers below $375-376/t CFR.
Turkiye: The Turkish imported scrap market remained subdued, with mills largely on the sidelines as they awaited clearer signals on near-term price direction.
A trader stated, “Domestic rebar prices are stuck, and we expect domestic scrap settlements in Europe to be lower than in June, which could prompt a moderate correction in scrap tags for Turkiye.”
Tradable levels for US-Baltic-origin HMS 80:20 were heard in the range of $340-348/t CFR, indicating range-bound pricing but muted buying interest.
Price assessments
India: UK-origin shredded indicatives were assessed at $359/t CFR Nhava Sheva, down by $1/t compared to the last closing day.
Pakistan: UK-origin shredded indicatives stood at $377/t CFR Qasim, up by $1/t compared to last Friday.
Bangladesh: UK-origin shredded prices were down by $1/t at $372/t CFR Chattogram compared to the last closing day.
Turkiye: US-origin HMS (80:20) bulk scrap prices were assessed at $345/t CFR Turkiye, down by $2/t compared to last Friday.
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