South Asia: Imported scrap prices firm; Pakistan sees price uptick on scrap shortage

• Imported offers into India firm, Bangladesh demand strong
• Turkiye market supported by tight semis and energy costs

South Asian imported scrap markets on 7 April showed firm trends, with India seeing higher offers, Pakistan facing supply shortages, and Bangladesh witnessing strong demand, while the Turkish market stayed stable, supported by tight semis supply and rising energy costs.

India:  Imported scrap offers to India showed firm trends, with regional variations in pricing. Small cargoes into Chennai were heard at $390/t CFR for Africa-origin HMS (25 t), while Australia/New Zealand offers were at $390/t CFR for HMS 90:10 and $412-415/t for shredded.

Australian bulk offers to India were heard at $380/t for HMS 80:20, $390/t for HMS 1, $405-410/t for shredded, and $420-425/t for PNS. UK-origin offers remained higher, with shredded above $400/t and HMS 80:20 at $380-385/t CFR.

Pakistan: Pakistan’s scrap market sentiment remained firm amid ongoing supply shortages, with imports from the UAE largely halted due to the war. This has shifted buying interest toward the UK, Europe, and Africa, supporting higher price levels.

Offers were heard at $430-435/t CFR, though considered high, while most deals last week were concluded at $415-425/t. Current buyer levels are around $420-425/t. Domestic shortages persist across regions, with some mills shut and others operating on limited inventory, relying largely on local scrap.

Bangladesh: Imported scrap prices into Bangladesh remained firm, with Australian offers heard at $390/t for HMS 80:20, $400/t for HMS 1, shredded at $420/t, and PNS at $430-435/t CFR Chattogram, reflecting strong seller expectations.

Bids for Australian shredded were heard at $412/t CFR for around 1,000 t, but no deal was concluded. Meanwhile, around 10,000 t bulk cargo from Singapore was booked, including HMS 80:20 at $400/t and PNS at $420/t CFR Chattogram.

Turkiye: Deep-sea imported scrap prices remained firm to stable on 7 April, with HMS 80:20 assessed at around $403-405/t CFR. Sentiment was supported by limited availability of imported semi-finished steel, particularly billet and slab, which shifted buying interest toward scrap. Rising energy costs amid Middle East tensions added uncertainty, while ongoing procurement needs continued to support prices despite cautious sentiment.