South Asia: Ferrous scrap market remains subdued on high offers
South Asian ferrous scrap import offers moved upwards. However, no active trades happened today due to subdued markets and demands. Indian buyers continued their silence ...
South Asian ferrous scrap import offers moved upwards. However, no active trades happened today due to subdued markets and demands.
Indian buyers continued their silence with no active buying or bidding, followed by a high offer holding ferrous scrap market of Pakistan with null deals and an LC opening issue facing Bangladesh's ferrous scrap market.
Indian buyers continued their silence with no active buying or bidding, followed by a high offer holding ferrous scrap market of Pakistan with null deals and an LC opening issue facing Bangladesh's ferrous scrap market.
"We offered $443/t for today, a competitive price for the day. however, no aggressive buying at the moment as LCs opening is an issue in Pakistan now " a Pakistani seller commented.
Turkiye's ferrous scrap prices increased in a recently concluded deal. A Mediterranean region-based mill booked a Venezuelan-origin bulk scrap cargo comprising HMS (90:10) at $385/t CFR Turkiye, SteelMint learnt from sources aware of the development. The cargo was booked for prompt shipments.
SteelMint's price assessment
- Europe-origin shredded scrap offers into India were at $440/t CFR Nhava Sheva, unchanged d-o-d.
- UK-origin shredded prices stood at $448/t CFR Chittagong, a $3/t up on a d-o-d basis.
- UK-origin shredded scrap prices were at $447/t CFR Qasim, unchanged from the last offer price.
