South Asia’s imported scrap prices fell slightly on the back of limited inquiries from buyers. Pakistan and Bangladesh-based scrap buyers are mostly silent due to the LC issue. Interestingly, buyers from India remained active and prices for the same remained higher, as suppliers took advantage of their buying interest especially since those from the other two countries were absent.
Meanwhile, the slowdown in Turkiye’s scrap trade was also a reason for the slow trade. However, many deals happened today at low prices.
SteelMint’s price assessments
- Europe-origin shredded scrap offers into India are at $460/t CFR Nhava Sheva, stable since Friday.
- UK-origin shredded scrap prices stand at $470/t CFR Chittagong, down by $5/t from Friday.
- UK-origin shredded scrap prices are at $463/t CFR Qasim, unchanged compared to previous offers.
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