South Asia: Imported scrap prices slightly up post-Turkiye deal

South Asia's imported scrap market inched up after a recent deal in Turkiye witnessed a hike in prices. Demand for imported scrap improved today in Bangladesh and Pakistan markets despite heavy rainfall.

Indian buyers turned active in bulk shipments and one deal of 10,000 t of bulk shredded scrap concluded at $425/t, CNF Mundra. In another deal, a total of 2,000 t of shredded scrap was traded at $440-445/t, CFR Qasim basis.

Price assessment

• Europe-origin shredded scrap offers in India stood at $450-455/t CFR Nhava Sheva, up by $5/t from yesterday.
  
  
• UK-origin shredded scrap prices were at $470-475/t CFR Chittagong, up by $3/t d-o-d.
  
  
• UK-origin shredded scrap prices were at $445/t CFR Qasim, up by $2/t d-o-d.