- Limited activity in Pakistan, buyers cautious
- Bangladesh market stable but demand remains muted
South Asia’s imported scrap markets stayed mostly subdued, with steady prices and limited buyer interest, as abundant domestic alternatives and wide bid-offer gaps kept buyers cautious across India, Pakistan, and Bangladesh.
India: India’s imported ferrous scrap market remained subdued, with spot activity muted as a wide bid-offer gap and increased alternative usage limited import appetite. Market participants noted that buyers were reluctant to raise bids amid weak demand and ample alternative steel inputs.
Imported shredded scrap was offered at $360-365/t CFR Nhava Sheva, with workable levels at $360/t, while 250 t of West Africa HMS 80:20 24 t loading was quoted at $330/t CFR Nhava Sheva.
Pakistan: The imported scrap market remained quiet, with the UK shredded initially offered at $372/t CFR, though workable levels were around $368/t. Recent transactions included 1,000t of shredded and HMS 80:20 at $340/t, both of UK origin, CFR Qasim. Current offers stand at $345/t for HMS 80:20.
Bangladesh: The imported scrap market remained stable this week. Australian shredded was assessed at $360/t CFR, while HMS 80:20 was at $338/t. UK and EU shredded were offered at $375-378/t CFR, but subdued demand around $366-370/t CFR limited actual trade.
Turkiye: Deepsea scrap prices remained stable d-o-d. US/Baltic-origin HMS 80:20 was reported at $335/t CFR, while EU-origin HMS 80:20 stood at $325-330/t CFR. Low price levels are challenging for sellers.
Bids for US-origin HMS 80:20 were seen at $330/t CFR and $360/t CFR for shredded. A Turkish mill participant said, “This is the bottom, and no one is active, seeing little chance of further sharp declines.”
Price assessments
India: UK-origin shredded prices remian stable at $361/t CFR Nhava Sheva compared to last Friday (20 September)
Pakistan: UK-origin shredded indicatives prices at $368/t CFR Qasim.
Bangladesh: UK-origin shredded prices rise by $1/t from 20 September to $372/t CFR Chattogram.
Turkiye: US-origin HMS 80:20 bulk scrap prices at $335/t CFR Turkiye.
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