Bearish imported scrap market trends continued this week in South Asia. Prices of imported scrap declined further. Production capacity remained low especially in Pakistan and Bangladesh due to power cuts and low finsihed steel demand. Whereas in India demand slowed down due to the ongoing Diwali holidays.
Furthermore, the market driver, Turkiye’s scrap prices, are decreasing amid falling production capacity utilisation.
SteelMint’s price assessment
- UK-origin shredded scrap prices are at $440/t CFR Qasim, down by $10/t against last closing.
- UK-origin shredded prices are unchanged at $465-470/t CFR Chittagong, down by $7/t compared to previous closing.
- Europe-origin shredded scrap offers to India are at $445-450/t CFR Nhava Sheva.
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