South Asia: Imported scrap trade picks up as prices fall, Bangladesh returns

South Asian countries’ buyers remained active in booking imported scrap, except for India. Interestingly, Bangladeshi buyers broke the silence and booked scrap after the FY2022-23 budget announcement.

• A total of 3,500 t of HMS scrap was sold at $500/t. Around 7,000 t of shredded material was booked at $545/t. In another deal, 1,000 t of the same material was traded at $540/t CFR Chittagong. SteelMint’s assessment for UK-origin shredded scrap stands at $545/t CFR Chittagong, down $5/t d-o-d.
• Two deals of around 2,000 t of shredded scrap each was sold at $522/t and $525/t CFR Qasim, respectively. SteelMint’s assessment for UK-origin shredded scrap stands at $520-525/t CFR Qasim, unchanged d-o-d.
• As per SteelMint’s assessment, Europe-origin shredded scrap stands at $520/t CFR Nhava Sheva, falling $3/t d-o-d.