Imported scrap buyers in India and Bangladesh remained active in procurement to build up their inventory as they expect finished steel demand to recover before the onset of winter season. However, prices of the imported material remained largely stable d-o-d. Meanwhile, in Pakistan, prices are on an uptrend over the past few days, but trade remains steady.
Recent deals
- Around 500 tonnes (t) of shredded scrap of UK-origin was traded at $525/t, CFR Chittagong. In another deal, a total of 1,000 t of New Zealand-origin shredded was booked at $520/t.
- Two deals of 500 t each of Venezuela-origin PNS and Europe-origin HMS-1 were concluded at $510/t, CFR and $495/t, CFR Chittagong, respectively.
- A trader sold around 2,000 t of Dubai HMS-1 at $510/t Nhava Sheva. Another deal of UK-origin PNS was concluded at $520/t, CFR Mundra basis.
- Two deals of 500 t each were concluded. Shredded scrap was sold at $510/t CFR Vizag and HMS premium quality at $490/t CFR Mundra.
SteelMint’s price assessment
- UK-origin shredded scrap prices stand at $500-505/t CFR Qasim, unchanged d-o-d.
- Shredded scrap prices are at $525/t CFR Chittagong, unchanged d-o-d.
- Europe-origin shredded scrap offers in India stand at $505-510/t CFR Nhava Sheva, down by $2/t d-o-d.
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