South Asia: Imported ferrous scrap market remains dull

South Asia's imported scrap market is largely mute in terms of fresh bookings, despite the fall in offers. Limited demand from buyers, the ongoing currency devaluation, and a sluggish Turkey scrap market led to the slow start this week.

Meanwhile, in Bangladesh, higher electricity tariffs and limited gas availability for reheating furnaces led to production cuts.

• SteelMint's assessment of UK-origin shredded scrap stands at $470-480/t CFR Qasim, falling by $5-10/t against last week.
  
  
• Shredded scrap prices into India stood at $470-480/t CFR Nhava Sheva, a drop of $5/t compared to the previous week's closing.