South Asia: Imported ferrous scrap prices fall further, limited deals concluded

South Asia's imported ferrous scrap offers slipped further in the beginning of the week. Despite the fall in prices, mills booked limited scrap cargo as they have sufficient finished steel stock in hand. Bangladesh remained out of the containerised market amid an unclear outlook. Thus, buyers and sellers opted for a wait-and-watch mode.

Meanwhile, SteelMint heard from sources that a bulk scrap export vessel from Australia is arriving soon in Bangladesh which was booked in early-May. The booking price was at $550/t for HMS and $560/t CFR Chittagong for shredded.

Recent trades

• Around 2,000 t of shredded scrap in containers of Europe-origin were traded at $480-482/t CFR Qasim.
  
  
• Around 1,600 t of HMS-1 scrap in containers of Dubai-origin were traded at $485-490/t CFR Nhava Sheva.
  
  

Price assessment

• UK-origin shredded scrap prices are at $485/t CFR Qasim, down by $3/t against Friday's closing price.
  
  
• Shredded scrap prices are at $510/t CFR Chittagong, unchanged compared to previous week.
  
  
• Europe-origin shredded scrap offers in India stand at $480-485/t CFR Nhava Sheva, down $2/t against last week's closing.