South Asia: Imported scrap market moving at slow place

The imported scrap market in South Asia is moving slowly, with few deals being struck at lower prices. Trade with Pakistan and Bangladesh is largely absent due to the LC opening issue. Imported scrap prices are remaining mostly unchanged on a d-o-d basis. Moreover, Indian buyers remain active in booking fresh slots from the Middle East at $445-446/t CFR basis.

Meanwhile, Turkiye's scrap prices continued to decline in recent deals.

SteelMint's price assessment

• Europe-origin shredded scrap offers into India are at $460/t CFR Nhava Sheva, unchanged d-o-d.
  
  
• UK-origin shredded scrap prices stand at $470/t CFR Chittagong, stable d-o-d.
  
  
• UK-origin shredded scrap prices are at $460/t CFR Qasim, unchanged d-o-d.