South Asia: Imported scrap prices inch down on slow bookings
South Asia’s imported scrap prices have inched down, on slow booking from buyers. Major scrap buyer Turkiye took a pause after a round of bookings. The reluctan...
South Asia's imported scrap prices have inched down, on slow booking from buyers. Major scrap buyer Turkiye took a pause after a round of bookings. The reluctance to accept the current prices and the LC issue has slowed down fresh bookings. However, Indian mills have booked small slots at increased offers.
Meanwhile, Pakistan's imported scrap market witnessed no deals today.
Further, Bangladeshi mills are quiet after two major bulk cargo bookings, and major mills expect supportive prices from Japan's Kanto scrap export prices.
Recent deal:
Around 500 tonne (t) of Europe-origin shredded scrap was booked on CNF Nhava Sheva basis at a price of $462/t.
SteelMint's price assessments
- Europe-origin shredded scrap offers into India are at $460/t CFR Nhava Sheva, unchanged on a d-o-d basis.
- UK-origin shredded scrap prices stand at $478/t CFR Chittagong, unmoved as compared to previous offers.
- UK-origin shredded scrap prices are at $465/t CFR Qasim, down by $3/t compared to previous offers.
