- India imported scrap prices stable; buyers remain cautious
- Bangladesh imported scrap market muted
South Asia imported scrap markets stayed stable and range-bound, tracking Turkish deep-sea prices holding at $355-356/t CFR. Firm Atlantic freight rates kept sellers under pressure, maintaining a cautious regional sentiment.
India: Imported scrap markets in India softened this week as buyers reduced their target levels to $320/t for African HMS 80:20 (25 t loads) and $335/t for shredded scrap; however, offers remain higher by between $10-15/t. Suppliers, however, held firm with offers $5-7/t higher at $325/t for HMS and $345/t for Australian shredded scrap, keeping sentiment cautious.
Market participants noted that demand for shredded scrap weakens once its premium over HMS crosses $20/t. Containerised shredded scrap workable levels were heard between $340-345/t CFR Nhava Sheva, with fresh offers slipping to $350/t and bids easing to between $340/t, signalling a clear wait-and-watch approach among mills.
Pakistan: Imported shredded scrap prices in Pakistan held steady between $355-356/t CFR Qasim, with material from Europe and the UK assessed at $355/t CFR Qasim, with some mills indicating that $353/t could still be workable for select shipments.
HMS from the Middle East was heard at $338/t CFR Qasim, while sheared HMS traded near $343/t CFR.
Bangladesh: Imported scrap markets in Bangladesh remained muted as fresh inquiries thinned, with Brazilian HMS 1 (90:10) indicated at between $330-335/t. Shredded scrap stayed comparatively higher at between $360-365/t, though trades were limited, reinforcing the subdued tone in the import segment.
On the domestic side, rebar prices held steady at between BDT 72,000-73,000/t exw Dhaka and between BDT 76,000-77,000/t exw Chattogram, reflecting cautious procurement and soft overall sentiment.
Turkiye: Deep-sea import scrap prices remained stable d-o-d, with offers staying rangebound within the narrow $355-357/t, CFR, band that has held since last week.
Even with a reasonably active spot market, participants noted that firm Atlantic freight rates continued to weigh on sellers, keeping overall deep-sea scrap valuations steady.
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