South Asia imported scrap prices stayed on the higher side, but market activity remained minimal.

• India: Imported scrap prices firmed despite slow activity
• Pakistan: Shredded scrap market remained subdued amid cautious buying

South Asia: Imported scrap markets showed mixed trends on 4 September, with Türkiye and India maintaining firm levels, Bangladesh staying elevated, while Pakistan remained subdued amid cautious buying and limited market activity.

India: Imported containerised scrap market firmed d-o-d on 4 September, although trading activity in Chennai remained slow. A trader noted that selling into India was less attractive compared with other regional import markets, limiting fresh buying interest. Despite the subdued activity, UK-origin shredded scrap was offered at $412-415/t CFR India, while UK-origin HMS was offered at $360-365/t CFR India, with sellers maintaining firm price levels.

Pakistan: Imported shredded scrap market remained subdued after a flurry of activity in the previous week, with buying and selling activity limited by the ongoing monsoon season. A UK-origin shredded cargo was booked at $415/t CFR Qasim, while suppliers continued to quote around prevailing levels. However, buyers were generally unwilling to accept higher offers, keeping the bid-offer gap wide and market activity moderate.

Bangladesh: Imported scrap market remained on the higher side, with UK-origin shredded scrap offers at $410-412/t CFR and HMS 80:20 at $370-375/t. However, slow demand in India prompted market participants to focus on sales into other regional markets.

Turkiye: Deep-sea imported scrap market remained stable d-o-d on 4 September, with HMS 80:20 levels around $375/t CFR. A Baltic-origin cargo was booked at $375/t CFR, while an EU-origin cargo was reportedly booked at $371/t CFR, supporting prevailing price levels.

Market participants expect further increases in the near term, supported by higher downstream rebar offers and mills seeking additional scrap for October shipments. However, some traders expect mills to pause after reaching around $380/t CFR, as they assess whether higher scrap costs can be passed through to rebar buyers.