South Asia: Imported scrap markets remain soft amid limited bookings

• Indian demand weak; import viability remains poor
  
  
• Turkish sentiment softens amid increasing supply
  
  

South Asian imported scrap markets remained subdued on 4 June 2026, as weak steel demand, poor import viability, and cautious buying sentiment continued to limit trading activity across India, Pakistan, and Bangladesh. Meanwhile, softer sentiment and increasing selling pressure weighed on Turkiye's deep-sea scrap market.

India: The imported ferrous scrap market remained weak, with buying activity continuing to stay limited amid poor steel margins and slow market conditions. No fresh deals were reported, while buyers continued indicating lower target prices. Market participants noted that traders remained under pressure to liquidate inventories, although most consumers were focused on domestic scrap and recently arrived imported cargoes. UK/Brazil-origin HMS 80:20 was heard offered at around $345/t CFR India.

High freight costs continued to limit import viability. An Australia-origin shredded scrap cargo of over 1,000 t was recently sold at around $375/t FAS, likely to Southeast Asia. Market participants noted that equivalent CFR levels remained well above Indian buyer indications of $340-350/t CFR for HMS, while firm domestic demand in Australia continued supporting higher offers.

Pakistan: The imported scrap market remained cautious, with trading activity staying slow as buyers targeted shredded scrap around $415-420/t CFR Qasim. UK/EU-origin shredded scrap offers were heard at around $425/t CFR, while Malaysia-origin GI bundles and HMS bundles were offered at $430/t CFR and $408/t CFR, respectively.

Bangladesh: The imported scrap market remained subdued, with mills continuing to favour domestic scrap over imports due to better price competitiveness. PNS offers from Singapore and Malaysia were heard at $430-435/t CFR Chattogram, limiting buying interest.

Offer indications remained available across multiple origins, with Australian-origin shredded scrap heard at around $420/t CFR, UK-origin shredded scrap at $410-415/t CFR, and HMS 80:20 at $380-385/t CFR. Market participants reported limited buying interest, with most buyers awaiting lower offer levels before returning to the market.

Turkiye: The deep-sea imported scrap market softened d-o-d for the second consecutive session amid bearish market fundamentals and increasing selling pressure. Market participants reported workable levels for US-origin HMS 80:20 at around $400-405/t CFR Turkiye, while European-origin material was heard below $400/t CFR. Sentiment remained weak amid growing scrap availability and limited mill buying, though Iran's temporary ban on semi-finished steel exports may support near-term scrap demand.