South Asia: Imported scrap trade remains sluggish, except in Pakistan

South Asia’s imported scrap market has seen weak trading activities, except in Pakistan. Pakistani mills continue to book imported scrap material at higher offers before Eid. However, on the back of limited availability, a shortage of containers, and a hike in scrap prices resulted in lower bookings in India and Bangladesh.

• Around 1,500 t of UK-origin shredded is being traded at $472-475/t, CFR Qasim. SteelMint’s assessment of UK-origin shredded scrap stands at $478/t CFR Pakistan, up by $6/t d-o-d.
• UK-origin shredded scrap into Bangladesh stands at $495-500/t CFR, unchanged d-o-d.
• Imported shredded scrap prices into India stood at $470/t CFR Nhava Sheva, unchanged d-o-d.