South Asia: Imported ferrous scrap market largely stable

South Asia's imported scrap market remained largely stable towards the weekend after heading north in the middle of the week. Bangladeshi mills need to pay due bills which ultimately pushed up finished steel sales at lower rates. On the other hand, Pakistan-based mills are buying small lots as prices are moving higher.

SteelMint's price assessment

• UK-origin shredded scrap prices were at $450-455/t CFR Qasim, stable d-o-d.
  
  
• UK-origin shredded prices were at $470-475/t CFR Chittagong, unchanged d-o-d.
  
  
• Europe-origin shredded scrap offers in India stood at $450-455/t CFR Nhava Sheva.