South Asian imported scrap markets subdued; Turkish prices edge up

• Bangladesh sees weak demand, limited transactions
• Pakistan market stable but very slow, buyers cautious

South Asia: Imported scrap demand remained subdued across India, Pakistan, and Bangladesh, weighed down by soft steel demand, high domestic prices, and limited transactions, while Turkiye saw firm deep-sea scrap prices near $370/t CFR amid cautious mill buying and mixed market sentiment.

India: Imported scrap demand in India remained muted as low finished steel demand weighed on imports, while attractive domestic scrap prices made deals unviable, a trader said. The rupee hovered near record lows against the US dollar, with UK-origin shredded quoted at $340-345/t and HMS 80:20 at $320-325/t CFR Chennai.

Pakistan: Imported scrap prices in Pakistan remained stable d-o-d, with the market very slow and sentiment quiet. Buyers were active only at lower workable levels focusing on limited price points, while offers were heard around $353-354/t CFR for PQ, EU-origin shredded at $355-358/t CFR, and UAE-origin HMS 80:20 at $338-340/t CFR.

Bangladesh: Imported scrap demand in Bangladesh remained subdued, with Australian HMS and shredded hovering around $340–365/t, though actual transactions were limited. Singapore-origin PNS was offered at $380/t CFR, while buyers capped bids near $365/t.

In the domestic market, billet prices were reported at BDT 63,000/t ($516/t), rebar at BDT 72,000-76,000/t ($589-622/t) in Dhaka and Chattogram, and local scrap at BDT 45,000-46,000/t ($368-376/t).

Turkiye: Deep-sea import scrap prices continued to edge higher on 10 December supported by reports of several EU-origin deals earlier in the week. Participants noted that higher levels were achievable for HMS 80:20, although none of the deals could be confirmed by market close.

Market sentiment remained mixed. Some sellers expected prices to stabilise, while others anticipated a fresh US-origin deal could push levels up. Mills remained cautious due to soft rebar demand and uncertainty over future construction activity, limiting their willingness to buy large volumes. US-origin HMS 80:20 was indicated near $370/t CFR.