South Asia: Imported scrap buyers continue booking small slots before holidays
South Asian ferrous scrap market remains active, with some small quantities booked by Bangladesh and Indian buyers. Despite the continuous uptrend in imported scrap price...
South Asian ferrous scrap market remains active, with some small quantities booked by Bangladesh and Indian buyers. Despite the continuous uptrend in imported scrap prices, buyers like to procure inventory before the winter holidays.
On the other hand, Pakistan remained silent today, with not many deals recorded. Meanwhile, Buyers are cautious due to the still stagnant domestic market situation.
"Pakistan has a Dollar crisis, all LC is stopped for the time being," said a scrap buyer.
Recent deals
- Around 1000 t containerised shredded scrap of Europe origin booked at $440/t CFR Nhava Sheva.
- Around 1000 t containerised shredded scrap of UK origin booked at $460/t CFR Chittagong.
- Around 500 t containerised HMS (80:20) scrap of Europe origin booked at $445/t CFR Chittagong.
SteelMint's price assessment
- Europe-origin shredded scrap offers into India were at $448/t CFR Nhava Sheva, unmoved d-o-d.
- UK-origin shredded prices stood at $468/t CFR Chittagong, inched up by $3/t d-o-d.
- UK-origin shredded scrap prices were at $447/t CFR Qasim, stable d-o-d.
