South Asia: Imported scrap market exhibits mixed sentiments

South Asia's imported scrap market today saw mixed trends. Indian and Bangladeshi buyers remained less active in procurring material, wheras imported scrap prices surged in Pakistan, although deals are not taking place at these rates.

"Bangladesh's market is still facing problems as banks are restricting LC openings only for essesntial commodities," a buyer source stated.

Today's deal

• Around 5,000 t of shredded scrap of Europe-origin was traded at $415-420/t CFR Qasim.
  
  

SteelMint's price assessment

• Europe-origin shredded scrap offers into India were at $415/t CFR Nhava Sheva, unchanged d-o-d.
  
  
• UK-origin shredded prices stood at $441/t CFR Chittagong.
  
  
• UK-origin shredded scrap prices were at $416/t CFR Qasim, a rise of $3/t d-o-d.