Bulk scrap import price data seen over the past six months reveal that prior to December 2023, India and Pakistan paid $25-30/tonne (CFR west coast of India and CFR Qasim respectively) higher compared to Turkiye. Bangladesh paid an even higher premium of $30-35/t. For instance, over August-December, 2023 when Turkiye paid an average $387/t CFR Iskerendun for US-origin HMS 80:20, India paid $30/t higher at $417/t CFR west coast for shredded from the EU. Pakistan coughed up $37/t extra at $424/t while Bangladesh paid a steep premium of $48/t when pitted against Turkiye.
