South Asia: Imported scrap market remain sluggish

After witnessing the recently-concluded Turkiye deal, South Asia's imported ferrous scrap market remained range-bound towards the weekend. Pakistani buyers have resumed imported material bookings as their domestic scrap prices are moving up on material scarcity. But Bangladeshi buyers maintianed silence over both bulk and container scrap bookings.

Recently, an Aegean-based steel mill in Turkiye booked a bulk cargo consignment, comprising HMS 1&2 (80:20), shredded and bonus, at $337/t, $352/t, and $352/t CFR Turkiye respectively.

Today's deals

• Around 5,500 t of shredded scrap of Europe origin was traded at $400-412/t CFR Qasim.
  
  

SteelMint's price assessment

• Europe-origin shredded scrap offers into India were at $415/t CFR Nhava Sheva, down $5/t d-o-d.
  
  
• UK-origin shredded prices ranged over $445-450/t CFR Chittagong.
  
  
• UK-origin shredded scrap prices were at $410-415/t CFR Qasim, a drop of $5/t d-o-d.