South Asia: Imported scrap markets subdued; Turkiye holiday puts brakes on trade

• Indian buyers waiting for further drop in prices
  
  
• Turkiye holiday slows deep-sea scrap trading
  
  

South Asian imported scrap markets remained largely subdued on 19 May 2026 amid weak steel demand, cautious buying sentiment, and currency pressure, while Turkiye's deep-sea scrap market stayed quiet due to national holiday, squeezed mill margins, and delayed buying activity.

India: India's imported scrap market remained weak d-o-d amid on downstream steel demand and persistent currency pressure, with market participants noting that the weak rupee continued making imports increasingly unviable. Shredded scrap offers were largely heard at $410-415/t CFR, although buyers remained cautious expecting further downside. UK-origin HMS offers stood around $350-360/t CFR, while shredded scrap offers were heard near $390-395/t CFR. Meanwhile, a Mandi-based trader was heard selling 500 t of South America-origin LMS bundles at $335/t CAD last week, while Malaysia-origin turnings were sold at $340/t CFR Chennai.

Pakistan: Imported scrap market remained slow d-o-d, with shredded scrap offers heard at $424-432/t CFR Qasim depending on shipment timing, booking position, and yard availability. Market participants noted that cautious buying sentiment and weak downstream steel demand continued limiting aggressive fresh bookings.

Selective transactions continued in Pakistan's imported scrap market, including 500 t of UK-origin shredded scrap sold at $428/t CFR Qasim and 500 t of UK-origin busheling at $427/t CFR. Meanwhile, Malaysia-origin HMS 80:20 was heard booked at around $380/t CFR, while Thailand-origin GI bundles were sold at $360/t CFR Karachi.

Bangladesh: The imported scrap market remained slow, with UK-origin shredded scrap offers heard at $415-416/t CFR, while HMS 80:20 offers were at around $388/t CFR. However, Bangladeshi buyers were actively booking ferrous scrap cargoes at around $420-425/t CFR.

Turkiye: Deep-sea imported scrap prices remained largely stable d-o-d on 19 May, although trading activity stayed extremely quiet as Turkish mills continued resisting higher offer levels amid weak rebar demand and squeezed margins. A national holiday in Turkiye further slowed activity at the start of the week, while buyers delayed bookings to pressure recyclers amid softer achievable price indications. However, market participants expect deal-making activity to gradually resume later this week as mills continue stocking June-shipment cargoes ahead of the upcoming Eid al-Adha holidays.