- In Bangladesh, demand remains weak amid heavy rains
- Indian imported scrap trade muted, buyers resist higher offers
South Asian scrap markets showed muted activity today as mills across India, Pakistan, and Bangladesh remained cautious on fresh bookings, while Turkiye’s deep-sea market held steady with limited buyer interest after last week’s deals.
Market overview
India: Imported scrap trading activity in India remained muted today as mills showed little buying interest. Market participants noted that workable levels for European-origin shredded hovered near $365/t, while no firm offers were heard for US-origin shredded.
Australian HMS 80:20 was discussed at $335-340/t CFR, With buyers remaining cautious, no significant deals were reported in the Indian market.
Pakistan: Pakistan’s imported scrap market remained slow today, with offers holding steady at $380-383/t CFR Qasim. Market participants indicated that UK-origin scrap offers were last heard at around $380-385/t. Fresh offers were expected later in the day.
In the domestic market, local scrap prices held firm in the range of PKR 138,000-140,000/t, reflecting stable sentiment despite subdued import activity.
Bangladesh: The Bangladeshi scrap market continues to remain sluggish, with weak demand and muted trading activity. On the import side, shredded scrap from Australia is currently being offered at around $370/t. Malaysian shredded scrap is quoted at $375-380/t against bids at $365/t, while PNS from Hong Kong is offered at $380/t with buying interest at $370-375/t.
In the domestic market, local scrap offers are holding steady at BDT 46,000-47,000/t, while rebar prices are quoted in the range of BDT 76,000-78,000/t. However, a few mills in Chittagong have trimmed rebar offers to BDT 77,000-78,000/t in response to subdued sales.
Turkiye: Turkiye’s deep-sea imported scrap prices held steady d-o-d prices, with market participants reporting limited activity after a string of deals concluded the previous week.
Tradable levels for US and Baltic-origin premium HMS 80:20 were reported at $345-350/t CFR, while EU-origin was heard at $341-346/t CFR, normalizing to $345-347/t CFR for premium quality.
Prices remained stable as buyers and sellers adopted a cautious stance. Mills evaluated requirements after earlier purchases, while sellers resisted lower bids, keeping overall market activity limited.
Price assessments
India: UK-origin shredded indicatives edge down by $1/t at $365/t CFR Nhava Sheva, compared to the previous day.
Pakistan: UK-origin shredded indicatives stood at $380/t CFR Qasim, stable d-o-d.
Bangladesh: UK-origin shredded pricesedge down by $1/t at $374/t CFR Chattogram compared to the previous day.
Turkiye: US-origin HMS (80:20) bulk scrap prices were stable d-o-d at $346/t CFR Turkiye.
Leave a Reply