South Asia: Weak steel demand and bid-offer gaps continue to limit scrap imports

• Turkiye: Trading muted as participants stay sidelined
  
  
• Bangladesh: Domestic scrap preferred over imports
  
  

South Asia's imported scrap markets remained subdued on 5 June 2026, with weak buying interest, persistent bid-offer gaps, and competitive domestic alternatives limiting fresh bookings across India, Pakistan, and Bangladesh. Meanwhile, Turkiye's deep-sea scrap market remained stable amid muted trading activity and cautious sentiment.

India: The imported ferrous scrap market remained weak, with no major fresh deals heard. Market participants reported that most buyers were focused on consuming domestic scrap and clearing recently arrived imported cargoes rather than placing new orders. Traders were also heard under pressure to liquidate inventories amid slow market activity.

Offer indications were heard at $345/t CFR India for UK/Brazil-origin HMS 80:20, $400-405/t CFR for UK-origin shredded scrap, $340-350/t CFR for UK-origin HMS, $305/t CFR for Africa-origin LMS bundles, and $315/t CFR for Africa-origin HMS bundles. Buyers were heard indicating bid levels of around $340/t CFR for Australia-origin HMS 80:20 and $365/t CFR for shredded scrap, while HMS 80:20 and LMS scrap were also heard at $350/t CFR and $320/t CFR Mundra, respectively, on a CAD basis.

Pakistan: Imported scrap prices remained subdued, with trading activity staying slow as buyers targeted shredded scrap around $415-420/t CFR Qasim. Meanwhile, Malaysia-origin GI bundles at $430/t CFR, and HMS bundles at $408/t CFR. The persistent bid-offer gap continued to limit fresh booking activity.

Bangladesh: Imported scrap prices remained subdued, with mills continuing to favour domestic scrap over imports due to better price competitiveness. Local scrap prices in Dhaka were reported around BDT 49,000-51,000/t ($399-415/t), while elevated PNS offers from Singapore continued to limit import buying interest. Offer indications remained available across multiple origins, with UK-origin shredded scrap heard at $410-415/t CFR and HMS 80:20 at $380-385/t CFR Chattogram, although no significant fresh deals were reported.

Turkiye: Deep-sea imported scrap market remained stable d-o-d on 5 June, with trading activity staying muted as most market participants remained on the sidelines. US-origin HMS 80:20 offers were heard around $407/t CFR, although some participants continued to indicate tradable levels near $410/t CFR. Meanwhile, EU-origin HMS 80:20 was heard at $397-398/t CFR.