South Asia: Cautious mill procurement limits scrap transactions; Bangladesh Budget uncertainity

• India rupee strength may support selective buying
  
  
• Turkish mills resist scrap bookings above $400/t
  
  

South Asian imported ferrous scrap markets remained subdued during the week ended 13 June 2026, as weak steel demand, cautious mill procurement, and persistent bid-offer gaps continued to weigh on trading activity across India, Pakistan, and Bangladesh.

India: Imported scrap market remained subdued, with mills showing limited interest in fresh bookings amid weak finished steel demand and unfavourable import economics. Market participants noted that elevated freight costs continued to support offer levels, while sluggish steel sales and pressure on margins kept buyers cautious.

Containerized HMS 80:20 offers were heard at $345-355/t CFR Nhava Sheva against bids of $330-340/t CFR, while shredded scrap offers were reported around $395/t CFR with bids remaining significantly lower. However, a slightly stronger rupee in recent days may improve import viability and support selective buying activity in the near term.

Pakistan: Imported ferrous scrap market remained subdued, with mills showing limited buying interest amid weak finished steel sales and cautious inventory management. Nevertheless, some trading activity was reported, with 500 t of UK-origin shipped shredded scrap sold at $423/t CFR Qasim, while fresh-loading shredded material was heard around $418/t CFR Qasim, indicating continued buyer resistance to higher-priced offers.

Bangladesh: Imported scrap market remained quiet, with mills maintaining a cautious stance ahead of the federal budget announcement. Shredded scrap bids were heard around $410/t CFR Bangladesh, while offers remained higher at $420-425/t CFR, limiting fresh bookings as buyers continued to wait for clearer market direction and more attractive price levels.

Turkiye: Deep-sea imported scrap market remained under pressure during the week, with weak rebar demand and squeezed mill margins continuing to limit buying interest. Market activity stayed muted as both buyers and suppliers awaited clearer price direction, while Turkish mills remained reluctant to book cargoes above $400/t CFR amid poor downstream sentiment. Market participants also noted that stronger pricing in alternative destinations reduced selling pressure on US exporters, potentially limiting the availability of quality scrap for Turkiye.