South Asian imported scrap markets remain largely subdued; Turkish prices stable

• Indian imports remain subdued amid bid-offer disparity 
• Bangladesh demand limited, Pakistan sees firm trade activity 

South Asian scrap markets remained mixed on 5 October, with India subdued, Pakistan seeing firmer shredded activity, and Bangladesh facing slow buying despite firm offers. Turkiye’s deep-sea market stayed steady, supported by firm US offers and elevated freight costs, while buyers remained cautious.

India: The imported scrap market remained subdued, with buyers indicating workable levels of around $360-365/t for HMS, while the maximum price for HMS was heard at around $370/t. UK HMS 80:20 (3% impurities) was bid at $340/t against offers of $360-365/t, while 1% impurity material was offered at $375/t. UK shredded was offered at $410-415/t and US shredded at $415-420/t.

Recent trading included around a UK-origin steel turnings sold to Chennai and Nhava Sheva at $340/t CNF. A cargo of US HMS 80:20 was booked at $390/t CFR Mundra, while a good-quality cast iron from the UK/EU was heard at $430/t CNF Mundra.

Pakistan: The imported scrap market saw firmer trading activity, with UK-origin shredded scrap changing hands at $422-427/t CFR Qasim. Offers remained around $422/t CFR, while buyers were seeking more competitive levels, with market participants indicating that workable prices could emerge near $420/t CFR.

Bangladesh: Imported scrap market continued to see firm seller offers, although buying interest remained limited as buyers resisted higher replacement costs. Malaysian and Philippine PNS were offered at around $420/t CFR Chattogram, while bulk HMS was heard at around $400/t. UK shredded scrap was indicated at $408-410/t, with HMS 80:20 offered at around $370/t.

Turkiye: Deep-sea imported scrap prices remained steady d-o-d on 2 October, with trading activity muted as market participants awaited fresh premium-origin deals for clearer price direction. US sellers were holding firm amid elevated freight rates and bullish domestic sentiment, with offers around $405/t CFR Türkiye, while Baltic offers were heard at $402-403/t.

Tradable US HMS 80:20 values were assessed at $400-405/t CFR, while EU-origin material was heard at $395-399/t CFR. Recent EU-origin business at $395/t continued to provide a reference for buyers, although firm US offers and higher freight costs kept sellers resistant to lower levels.