- Indian bids stay roughly $15-20/t lower than offers
- Tight supply, freight costs support Turkish prices
South Asia’s imported scrap markets remained subdued, with limited buying interest, stable offers for shredded, busheling, and HMS grades, while price gaps persisted between sellers’ quotes and buyers’ bids.
India: India’s imported scrap market remained subdued, with shredded offered at $350-355/t from New Zealand and Australia, busheling at $370/t, PNS at $355-360/t, HMS 80:20 at $330-335/t, HMS 90:10 at $335-340/t, and NTP at $355-360/t. CFR Nhava Sheva levels varied, with shredded at $350-355/t, busheling at $370-375/t, PNS at $365-370/t, and HMS 80:20 at $325-330/t.
Market sentiment was weak, as buyers targeted lower levels of around $320-325/t, roughly $15-20/t below prevailing offers. From Australia to Chennai, shredded was offered slightly higher at $360-365/t, but demand remained limited.
Pakistan: The imported scrap market saw limited activity today, as buyers remained cautious amid stable offers. EU/UK shredded was available at $368-370/t CFR Qasim, while UAE-origin shredded continued to be quoted at $385/t.
No major trades were heard. Mill capacity utilisation remained low at 35-40% across major regions, reflecting muted demand.
Bangladesh: The imported scrap market remained largely unchanged, with Singapore PNS offered at around $378/t and bids hovering near $370/t. UK/EU shredded was quoted at $375/t, with bids lower, at $370-372/t. Overall sentiment stayed subdued, weighed down by slow construction activity and delays in public infrastructure projects.
Turkiye: Deep-sea scrap prices remained stable d-o-d, with US and Baltic-origin HMS 80:20 offers at $348-350/t CFR and tradable levels at around $345-348/t, while recent deals were concluded near $347/t. Limited availability kept sellers cautious, with offers supported by rising freight costs, as scrap buyers awaited firmer market signals.
Price assessments
India: UK-origin shredded prices remains stable d-o-d to $356/t CFR Nhava Sheva.
Pakistan: UK-origin shredded indicatives prices remains stable d-o-d to $366/t CFR Qasim.
Bangladesh: UK-origin shredded prices remains stable d-o-d to $371/t CFR Chattogram.
Turkiye: US-origin HMS 80:20 bulk prices were at $348/t CFR Turkiye, stable d-o-d.
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