South Asia: Mills active in booking imported scrap

Buyers of South Asian countries, mainly Pakistan and India, are actively booking containerised imported scrap. However, Bangladesh buyers resisted to book fresh slots of scrap amid price volality.

• A total of 7,000 t of shredded scrap was sold at $518-520/t. In another deal, around 2,800 t of the same material was booked at $515/t CFR Qasim. SteelMint’s assessment for UK-origin shredded scrap stands at $520-525/t CFR Qasim, unchanged d-o-d.
• Around 3,500 t of Europe origin shredded was booked at $510-520/t. In another deal, 1,000 t of Dubai-origin HMS-1 was sold at $485/t CFR Nhava Sheva. As per SteelMint’s assessment, Europe-origin shredded scrap stands at $520-525/t CFR Nhava Sheva, unchanged d-o-d.
• SteelMint’s assessment for UK-origin shredded scrap stands at $550/t CFR Bangladesh, stable d-o-d.