- Buyers in Turkiye remain active despite rising offers
- India’s scrap market stays slow and selective
Imported scrap markets remained muted in India, Pakistan, and Bangladesh amid currency pressure, weak demand, and cautious buying on 4 December. Meanwhile, Turkiye recorded firm deep-sea scrap prices supported by strong freight and active buying.
India: Imported scrap activity in India stayed muted, with only a little improvement in buying inquiries despite a bigger room for winter restocking before Western suppliers go for holidays.
On the other hand, a weak rupee pressure kept importers cautious about new bookings.
Some selective bid levels stood at around $324-325/t CFR Chennai for hand-loaded HMS, $345-350/t for NTP bales, and $300-305/t for turnings, while offers included EU shredded at $350-352/t, Hong Kong PNS at $360-364/t, and Malaysian busheling at $362-366/t.
Pakistan: Imported scrap prices remained largely range-bound despite elevated offers, as the local market stayed cash-strapped and sluggish. EU shredded was quoted at $356-358/t CFR, while UAE HMS 80:20 stood at $338-340/t, with furnaces operating at lower capacity utilisation and slow intake of raw materials amid weak downstream demand, which kept cautious winter restocking.
Bangladesh: Imported scrap demand in Bangladesh remained subdued, with containerised offers largely unworkable for buyers. Slow rebar sales continued to mute market activity, keeping mills cautious as they await a post-election or January demand recovery.
Australia-origin scrap into Bangladesh is workable at $325-330/t for HMS 80:20, $335-340/t for HMS 1, $355-358/t for shredded, and around $360/t for PNS, while Chile/Brazil HMS stands near $335/t, with bids closer to $330/t.
Turkiye: Deep-sea scrap prices inched higher on 3 December, supported by firm freight rates and elevated collection costs, while buyers remained active despite offers rising $5-6/t over the past week. US/Baltic material was assessed at $368-372/t, Europe at $362-365/t, and short-sea inquiries, including Romania and France, were reported around $350-355/t.
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