South Asia: Imported ferrous scrap prices remain stable amid cautious buying
Today, the South Asian ferrous scrap market maintained stability, with trade activity notably thin in Pakistan and Bangladesh. Indian buyers displayed moderate activity, although the pace remained sluggish. Several bookings were reported:
- Around 1,500 t of HMS (80:20) scrap were secured from West Africa at $405/t CFR for a 20 t loading container destined for the west coast of India, and $415/t CFR for a 25 t loading container.
- Around 1,000 t of shredded scrap were booked from the US at $425/t CFR west coast India.