South Asia: Imported scrap market continues to remain dull

Imported scrap prices continued the downtrend post Diwali holidays in India. Pakistan and Bangladesh are facing LC opening restrictions and facing the power outage impact on production. Finished steel demand is yet to pick up. However, industry experts believe that demand may improve towards end-November.

Recent Trades

• Around 1,000 tonnes (t) each, shredded and HMS scrap of UK origin were traded at $430/t and $420/t CFR Nhava Sheva.
  
  

SteelMint's price assessment

• Europe-origin shredded scrap offers to India were at $430-435/t CFR Nhava Sheva, down marginally on d-o-d.
  
  
• UK-origin shredded scrap prices were at $425-430/t CFR Qasim, unchanged d-o-d.
  
  
• UK-origin shredded prices were unchanged at $460/t CFR Chittagong.