- Turkiye sees slight price rise but subdued demand
- India’s imported scrap market quiet amid cautious buying
South Asian scrap markets stayed largely stable with quiet trading and cautious buying. Prices held firm amid subdued demand across India, Pakistan, and Bangladesh, while Turkiye saw a slight uptick in deepsea scrap prices despite muted activity.
Market overview
India: India’s imported scrap market remains quiet with muted trading activity across key origins. EU-origin CR busheling scrap is assessed at around $380/t CFR Nhava Sheva (for ICD Ludhiana), while turning scrap prices hold steady at $310-315/t.
From Australia, HMS 80:20 is offered between $330-340/t CFR Chennai, and shredded scrap is quoted at $366-370/t. Despite these levels, buyers remain cautious amid subdued demand and limited buying interest.
US and UK-origin scrap prices hover near $375/t CFR, with shredded scrap workable at $360-365/t. Overall, market sentiment reflects a wait-and-watch stance as end-user demand stays soft and trading volumes remain thin.
Pakistan: Imported scrap market remained stable with limited trading activity. A recent deal saw for EU-origin shredded scrap sold at $380/t CFR Qasim, reflecting material shortages in the EU that have kept prices elevated.
Meanwhile, UAE-origin shredded scrap was offered at $395-400/t CFR, with sheared HMS quoted between $375-378/t and fabrication scrap around $395/t CFR. Despite firm offers, overall market activity stayed subdued amid cautious buyer sentiment.
Bangladesh: Bangladesh’s imported scrap market remained quiet with limited trading activity this week. Australian scrap offers for CFR Chattogram stood at $340-345/t for HMS 80:20, $355-360/t for HMS 1, $370-375/t for shredded, and $385-390/t for busheling grades.
Malaysian shredded scrap was offered at $375-380/t, while bids lingered around $365/t. PNS scrap from Hong Kong was quoted at $380/t, with buyers showing interest closer to $370-375/t, indicating cautious sentiment amid steady but firm offers.
Turkiye: Turkiye’s deepsea imported scrap prices saw a slight d-o-d increase, with some mill deals confirmed for September shipment. Overall market sentiment stayed mostly unchanged, partly due to many participants being away on holiday.
Price assessments
India: UK-origin shredded indicatives edge down by $1/t at $364/t CFR Nhava Sheva, compared to last closing day (friday).
Pakistan: UK-origin shredded indicatives stood at $380/t CFR Qasim, compared to friday.
Bangladesh: UK-origin shredded prices edge up by $1/at $374/t CFR Chattogram compared to last closing day (friday).
Turkiye: US-origin HMS (80:20) bulk scrap prices edge up by $1/t d-o-d at $347/t CFR Turkiye compared to friday.
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