- India: Steady sentiment with selective, need-based buying
- Pakistan: Muted activity as Ramadan slowdown takes hold
South Asia’s imported scrap markets stayed stable but muted, with India, Pakistan and Bangladesh witnessing limited buying and narrow tradable ranges, while Turkiye remained directionless amid weak rebar demand and cautious seller activity.
Region-wise highlights
India: Imported scrap sentiment in India stayed steady, with small containerised trades setting the workable range. New Zealand-origin HMS 80:20 (24 t loading) was sold to Chennai, while Hong Kong AB bales was concluded at $340/t. A larger parcel was reported at $339/t CIF Mundra, and tradable levels for containerised HMS 80:20 were heard at $340-350/t CFR Nhava Sheva as buyers waited for clearer market direction.
No major EU/UK deals surfaced as rising collection costs kept offers high, with UK shredded offered near $370/t while bids stood about $5 lower. With limited urgency to buy and broad expectations of stable pricing, mills continued purchasing only on a requirement basis.
Pakistan: Imported shredded scrap sentiment in Pakistan stayed stable but demand remained muted, with Qasim buyers showing limited interest once offers approached $390/t and freight into Karachi stayed comparatively high earlier in the week. Market participants noted Pakistan has been largely silent for three-four days, with only selective pre-Ramadan deals taking place. Current indications stand at $395-396/t for Emirates shredded, $380-385/t for UK shredded, $370/t for Emirates HMS 1, and $376-378/t for sheared HMS.
Bangladesh: Imported ferrous scrap prices in Bangladesh remained largely unchanged, with PNS from Malaysia/Singapore offered around $380/t CFR Chattogram and HMS 90:10 near $370/t. Australian offers also held steady, with HMS 1 at $355-360/t. Tight domestic scrap availability and pre-election positioning kept sentiment stable.
Turkiye: Imported deep-sea scrap prices in Turkiye stayed stable as trading remained limited and sellers stayed cautious. An EU-origin HMS 80:20 cargo was heard booked by an Iskenderun mill at around $369/t CFR, though unconfirmed, while US-origin offers hovered below $380/t CFR amid uncertainty over direction.
Rebar demand stayed muted in both domestic and export markets, keeping mills conservative and restricting fresh bookings. Limited offer availability and weak downstream activity kept the imported scrap market steady but lacking momentum.
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