South Asia: Imported scrap demand remains subdued

Lack of demand for finished and semis products kept the South Asian scrap market under pressure. Pakistani and Bangladeshi buyers are facing liquidity crises. Buyers opted for a wait-and-watch approach, which led to limited trading in the market throughout the day, SteelMint learned from sources.

Price assessment

• Europe-origin shredded scrap offers in India stood at $450/t CFR Nhava Sheva, unchanged against yesterday.
  
  
• UK-origin shredded scrap prices were at $470-475/t CFR Chittagong, stable compared d-o-d.
  
  
• UK-origin shredded scrap prices were at $440-445/t CFR Qasim.