South Asia: Imported scrap offers move upwards, trade yet to pick up

Imported scrap offers shot up in South Asian markets today due to limited scrap availability. However, trade is yet to pick up in Pakistan and Bangladesh. Also, buyers were opting for other alternative origins as prices from UK/Europe are high, especially for Pakistan and Bangladesh.

SteelMint's assessment of UK/Europe-origin scrap-

• UK-origin shredded scrap price stands at $470-480/t CFR Qasim, up by $5-10/t d-o-d.
  
  
• Shredded scrap price is at $490/t CFR Chittagong, increasing by $5-10/t d-o-d.
  
  
• Dubai-origin HMS-1 prices in India stand at $490-495/t CFR Nhava Sheva, up by $10/t d-o-d.
  
  

Recent deals

• Around 600 t HMS-1 of Dubai-origin was traded at $497/t CFR NHSV.
  
  
• 1,000 t UK /Canada-origin PNS was sold at $485-490/t CFR NHSV.
  
  
• Brazilian HMS 500 t was sold at $467/t, CFR NHSV.
  
  
• Meanwhile, 1,000 t of Australian shredded was booked at $470/t CFR Chittagong.
  
  
• Around 500 t PNS of UK-origin was booked at $495/t CFR Chittagong.