- India buyers favour domestic alternatives over imports
- Turkiye deep-sea scrap prices face downward pressure
South Asian imported ferrous scrap markets remained subdued during the week ended 17 June 2026, as weak steel demand, poor import viability, and cautious mill procurement limited buying activity. Meanwhile, Turkiye’s deep-sea scrap market remained under pressure amid softer deal levels and persistent downward price sentiment.
India: Imported ferrous scrap market remained subdued, with poor import viability and cheaper sponge iron and DRI continuing to limit buying interest. A market participants reported, “No import deals over the past two months, reflecting weak demand for imported material.”
Although a 500 t cargo of Brazil-origin HMS 80:20 hand-loaded material was reported at $360/t CFR West Coast, buying interest remained limited as imported scrap continued to struggle against cheaper domestic feedstock. HMS 80:20 offers were heard at $345-355/t CFR Nhava Sheva against bids of $330-340/t CFR, while shredded scrap offers at around $395/t CFR remained well above buyer indications of $370-375/t CFR.
Pakistan: Imported shredded scrap sentiment softened further, with buyers adopting a wait-and-watch approach amid expectations of lower prices following recent geopolitical developments. UK-origin shredded scrap offers were heard at $415-418/t CFR Qasim against bids of $400-405/t, while market participants indicated a workable level around $410/t CFR.
Bangladesh: The imported scrap market remained quiet, with buyers staying cautious amid weak steel demand and rising electricity costs. Buyers targeted around $400/t CFR and largely adopted a wait-and-watch approach, expecting a potential market correction. UK-origin shredded scrap offers were heard at $407-410/t CFR, while HMS 80:20 was available at around $380/t CFR.
Reported transactions included Philippines-origin GI bundles at $340/t CFR Chattogram, Brazil-origin HMS 80:20 at $370/t CFR, and Australia/New Zealand-origin HMS 90:10 at $387/t CFR Chattogram.
Turkiye: Deep-sea imported scrap market remained soft, with downward pressure persisting amid weak Turkish buying interest and improving competitiveness of Black Sea-origin cargoes. A deal for Europe-origin HMS 80:20 to Turkiye was reportedly concluded at $387/t CFR, indicating lower workable levels in the market. A market participant noted that “UK and Western European exporters remained under pressure to secure sales, with indicative levels heard around $380-383/t CFR. Meanwhile, US-origin HMS 80:20 continued to face resistance below $400/t CFR, as Turkish bids remained in the low $390s while suppliers held firm on offers.”
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