South Asia: Imported scrap prices continue to fall, trading muted

South Asia imported scrap market saw a slow start at the beginning of the week. Currency devaluation has impacted the market, and sellers are panicking to conclude deals at lower rates. However, buyers are preferring domestic material over imported ones.

• Pakistan's imported shredded scrap prices of UK-origin are assessed at $515-520/t, CFR Pakistan, largely stable against the end of last week.
  
  
• SteelMint's India assessment for shredded scrap from UK-origin is at 520/t CFR, Nhava Sheva, down $10/t CFR levels.
  
  
• Bangladesh's imported scrap offers for UK-origin shredded stand at $530-535/t CFR, Nhava Sheva, down by $5-10/t against last week.