Tag: South Asia: Imported ferrous scrap market sees downtrend on weak demand

The South Asian ferrous scrap market saw further downtrend owing to bid-offer gaps, slow domestic steel market and civil unrest. In India, demand remained sluggish due to a widening bid-offer gap, a slowdown in the domestic steel market, and seasonal impacts. In Pakistan, buyers showed moderate interest in imported scrap amid lower rebar sales. Bangladesh’s…