Go to List

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...

Melting Scrap
By
579 Reads
22 Jun 2022, 19:46 IST
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 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.


 

22 Jun 2022, 19:46 IST

 

 

You have 1 complimentary insights remaining! Stay informed with BigMint
;