South Asia: Imported scrap prices edge up; trades yet to improve

Containerised scrap bookings in South Asian countries slowed down in the past few days. However, Indian buyers are procuring imported material in small quantities. Imported scrap prices improved in Pakistan and Bangladesh but trades remained slow amid the uncertain market situation. Also, the upcoming Muharram Ashura holidays are likely to keep Pakistan and Bangladesh market muted till 10th of Aug'22.

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

• UK-origin shredded scrap price stands at $465-470/t CFR Qasim, up by $5/t d-o-d.
  
  
• Shredded scrap price is at $480-485/t CFR Chittagong, increasing by $2-3/t d-o-d.
  
  
• Europe-origin shredded prices in India stand at $460-465/t CFR Nhava Sheva, unchanged d-o-d.