South Asia: Imported scrap prices remain steady; upcoming election weighs on trade in Bangladesh

• Prices into Pakistan remain firm ahead of Ramadan
• Turkish market quiet on muted deep-sea demand

South Asian scrap markets remained mixed, with India showing selective buying strength, Pakistan firm on pre-Ramadan demand but turning cautious, and Bangladesh largely stable amid slow activity. Meanwhile, Turkiye stayed quiet with unchanged prices and muted deep-sea trading sentiment.

Region-wise highlights

India: Imported scrap offers into India remained largely stable, though transactional levels indicated selective strength. From South America, HMS 1 was offered at $356-360/t CFR West Coast India and HMS at $345-350/t, while US-origin shredded was heard around $380/t (offer level, under confirmation). From the Middle East, PNS (Blue steel and Super) was quoted at $380-385/t CFR Mundra, with LMS heard at $335-340/t. UK-origin shredded continued to hover around $370/t CFR.

A Middle East-origin HMS 80:20 was sold at $370/t CFR Mundra, while a Brazilian LMS was booked at $330/t CFR Mundra. Busheling workable levels were heard near $375/t, though European offers remained higher at $380-385/t.

Pakistan: Imported shredded scrap prices in Pakistan remained firm ahead of 17 February, supported by pre-Ramadan buying interest. UAE-origin shredded was indicated above $400/t CFR and UAE HMS 80:20 above $375/t, while UK shredded hovered near $385/t. However, following this booking, buyers have turned cautious and are reassessing positions, with expectations of potential downside pressure in the near term.

Bangladesh: Imported ferrous scrap prices in Bangladesh remained largely unchanged, with UK/EU shredded indicated around $370/t CFR Chattogram and HMS near $350/t. An offer for HMS bundles from Malaysia was heard at $355/t. Indicative levels from Oceania (Australia/New Zealand) were reported at $375-380/t for shredded, $355-360/t for HMS 90:10, $348-350/t for HMS 80:20 and $378-382/t for PNS. Trading activity stayed slow ahead of the upcoming election, keeping buyers cautious and limiting fresh bookings.

Turkiye: Deep-sea import scrap prices remained largely unchanged on 12 February, with tradable indications for US-origin HMS 80:20 at $375-376/t CFR as buying activity stayed muted. Limited mill interest and harsh winter conditions on the US East Coast slowed logistics and restrained fresh bookings, keeping sentiment stable but inactive, although a return to the market could lift prices toward $380/t CFR.