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South Asia: Imported scrap market largely quiet on negative market sentiments

South Asia’s imported scrap trade remained largely stable today. Prominent scrap buyers like Pakistan and Bangladesh are struggling with negative market sentime...

Melting Scrap

BigMint Bureau

230 Reads

9 Sep 2022, 19:15 IST

South Asia: Imported scrap market largely quiet on negative market sentiments

South Asia's imported scrap trade remained largely stable today. Prominent scrap buyers like Pakistan and Bangladesh are struggling with negative market sentiments. However, one bulk cargo has been booked in today's Japanese scrap export tender at increased offers. The flood-like situation across Pakistan impacted transportation and other market activities.

On the other hand, Indian mills remained quiet as they are waiting for bulk arrivals. However, deals for smaller volumes continued to happen from short-sea distances.

Currency exchange

Price assessment

UK-origin shredded scrap prices were at $460-465/t CFR Qasim, unchanged d-o-d.
Europe-origin shredded scrap offers in India stood at $458/t CFR Nhava Sheva, inching down against yesterday.
Shredded scrap prices were at $495/t CFR Chittagong, down by $5/t d-o-d.