South Asia’s imported scrap offers continued their uptrend. However, trade activities remained subdued due to already piled up finished steel inventory with Pakistan- and Bangladesh-based mills. Meanwhile, Pakistani mills lowered domestic rebar prices on currency appreciation. Hence, trade is likely to gain momentum.
Bangladesh steel mills also remained silent while Indian mills continued booking imported scrap in small quantities.
SteelMint’s price assessment
- UK-origin shredded scrap prices stand at $500/t CFR Qasim, up significantly by $5/t from last weekend.
- Shredded scrap prices are at $515-520/t CFR Chittagong, higher by $10-15/t from last weekend.
- Europe-origin shredded scrap offers in India stand at $505/t CFR Nhava Sheva, up by $10/t from last weekend.
All prices mentioned are that of containers
T1- Transaction, T2- Bids/Offers/indicative
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