- Freight hikes, weak sentiment pressure import prices in Turkiye
- Wide bid-offer gaps restrict bulk scrap trade in Bangladesh
South Asia’s imported scrap markets remained weak, with wide bid-offer gaps and sluggish steel demand, while rising freight and shifting US supply focus added pressure to Turkiye’s import market.
India: India’s imported scrap market remained under pressure as falling domestic finished steel prices weighed on sentiment and kept buyers on the sidelines. Mills continued to resist higher offers, with bids lagging behind market levels.
HMS 90:10 bids were around $340/t against offers of $345-346/t, while shredded scrap was heard at $360-365/t. UK-origin HMS 80:20 was offered at $320/t, and Mauritius cargoes at $325-330/t. Bulk HMS was indicated at $350-355/t, though bids stayed closer to $340/t.
Pakistan: The imported scrap market stayed quiet with limited activity, as offers varied across origins, with UK shredded heard in the range of $378-384/t depending on the yard.
Bangladesh: Bangladesh’s imported scrap market remained slow, with wide bid-offer gaps limiting trade. Australian shredded was offered at $380/t CFR Chattogram against bids at $370/t, while PNS was indicated at $383/t CFR compared with buying interest at $372-375/t.
Turkiye: Turkish deep-sea import scrap prices softened d-o-d, with Platts assessing HMS 80:20 at $345/t CFR. Market sentiment remained weak as mills showed limited buying interest, while rising freight rates added further pressure on sellers.
Participants noted freight costs had risen by $10-15/t, making it harder for exporters to maintain current offer levels. Some US sellers shifted to domestic sales for better returns, reducing supply flexibility and pressuring Turkish market sentiment.
Price assessments
India: UK-origin shredded preced remained stable at d-o-d at $364/t CFR Nhava Sheva.
Pakistan: UK-origin shredded indicative prices edged down by $1/t d-o-d to $379/t CFR Qasim.
Bangladesh: UK-origin shredded prices remain stable d-o-d at $374/t CFR Chattogram.
Turkiye: US-origin HMS (80:20) bulk scrap prices edged down by $1/t d-o-d to $345/t CFR Turkiye.
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