South Asia: Imported ferrous scrap market sees some deals, Bangladesh buyers under pressure
South Asia’s imported scrap market saw many transactions today after the recent Turkish scrap deal concluded at a lower price. India and Pakistan’s in...
South Asia's imported scrap market saw many transactions today after the recent Turkish scrap deal concluded at a lower price. India and Pakistan's international markets remained largely active whereas Bangladeshi buyers were under pressure due to floods in various regions of the country.
A total of 500 tonnes (t) of HMS 1 was booked at $425/t, CFR Nhava Sheva. A deal for around 3,000 t of US-origin shredded was concluded at $425/t levels. Another 40,000 t of bulk cargo was booked recently from the US East Coast. The cargo comprised 36,000 t of shredded and 4,000 t of bonus at an average price of $415/t CFR Kandla.
A total of 3,000 t of Europe-origin shredded scrap material was booked at $430/t CFR Qasim basis. Another 2,500 t of UK-origin deal was concluded at $435/t CFR Qasim.
SteelMint's assessment for UK-origin shredded scrap stands at these prices:
- $435/t CFR Nhava Sheva, down by $5/t d-o-d.
- $465/t CFR Bangladesh, falling by $10/t d-o-d.
- $432/t CFR Qasim, unchanged compared to yesterday.