- India: Buyers hesitant, closely watching currency and demand
- Turkiye: Mills cautious, limited purchases amid tight supply
South Asia imported scrap markets remained subdued on 18 December, with limited buyer activity and steady prices. Turkiye saw support from seasonal supply tightness, while buyers in India and Bangladesh stayed cautious amid weak demand and currency pressures.
India: Imported scrap demand in India remained subdued, with EU-origin shredded scrap last heard at between $345-350/t CFR on the west coast and HMS 80:20 at $315-318/t CFR. Indian buyers were offering around $340/t for shredded, close to East Asian levels for Australian scrap, while other Western suppliers quoted higher at $350-355/t, as mills monitored the weakening INR.
Pakistan: Imported scrap offers inched up as cargo availability tightened, encouraging modest buyer interest ahead of the holiday season. However, overall activity remained muted due to elevated freight and LC costs. Recent deals for Europe/UK shredded scrap were reported at $354-359/t CFR Qasim, though trading volumes stayed light.
Bangladesh: The imported scrap market remained subdued day on day, with Australian HMS 80:20 assessed at $335-336/t CFR, shredded scrap at $360-366/t CFR, and PNS at $365-368/t CFR. Shred offers from Australia to Chattogram were around $360/t, with some bids heard at $354-355/t CFR, while HMS 80:20 and HMS 90:10 were assessed at $330-340/t CFR Chattogram.
Turkiye: Deep-sea import scrap prices in Turkey rose on Thursday, supported by seasonal supply constraints and limited collection rates, while a stronger euro reduced selling interest from EU suppliers. Trading remained limited as suppliers held firm amid tight availability.
In the US, mills raised bids after severe weather disrupted construction and demolition activity, tightening material flows and supporting higher scrap prices. Turkish mills stayed cautious, with offers for US HMS 80:20 at $370/t and bids around $365/t CFR.
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