South Asia: Imported scrap market continues to remain sluggish

South Asian imported scrap market saw slow demand towards the week end. Production cuts, surged electricity rates and increased input costs weighed on imported scrap demand, sources said. Bangladeshi buyers have retreated from closing transactions because of LC opening issues.

SteelMint's price assessment

• Europe-origin shredded scrap offers into India were at $430/t CFR Nhava Sheva.
  
  
• UK-origin shredded scrap prices were at $425-430/t CFR Qasim.
  
  
• UK-origin shredded prices were unchanged at $460/t CFR Chittagong.