South Asia: Imported scrap trade remains dull despite low offers

Contanerised imported scrap buyers in South Asia slowed down activity despite decline in prices due to limited demand from end-users amid LC issues and heavy rains and flood situation in many parts of Pakistan and Bangladesh. However, Bangladesh based steel producers inquired for bulk cargoes on attractive offers.

Even as a few cargoes which were ordered in June-August have started arriving at Indian port, buyers still remained active in booking fresh slots.

Recent trades

• Around 4,000 t of shredded scrap in containers of Europe-origin was traded at $490/t CFR Qasim.
  
  
• Around 2,000-2,500 t of HMS-1 scrap in containers of Dubai-origin was traded at $490/t CFR Nhava Sheva.
  
  
• Around 3,000 t of shredded scrap in containers of UK/Europe-origin was traded at $480-485/t CFR Nhava Sheva.
  
  

Price assessment

• UK-origin shredded scrap prices are at $485-490/t CFR Qasim, unchanged compared to yesterday.
  
  
• Shredded scrap prices are at $510/t CFR Chittagong, unchanged d-o-d.
  
  
• Europe-origin shredded scrap offers in India stand at $485/t CFR Nhava Sheva, down $3/t d-o-d.