The South Asian imported scrap market was mostly quiet today. However, imported scrap offers remained stable for yet another day.
Steel mills in Pakistan and Bangladesh were cautious over LC-related concerns. The situation is likely to worsen further if the issue is not resolved.
Indian mills are likely to remain active in the market as prices remain favourable. A few bulk cargoes have arrived at Vizag port.
Price assessment
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- Europe-origin shredded scrap offers into India are at $452/t CFR Nhava Sheva, down $3/t.
- UK-origin shredded scrap prices stand at $475/t CFR Chittagong, up $5/t compared to last offers.
- UK-origin shredded scrap prices are at $460/t CFR Qasim, unchanged d-o-d.
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