South Asia: Imported scrap trades improve in both bulk and containers

South Asian imported containerised scrap prices are edging higher, except in India. Indian buyers are booking bulk scrap vessels due to which Turkish buyers have turned cautious and are buying at higher rates to restock material before winter. Meanwhile, there is a buzz in the market that one bulk cargo is estimated to arrive in India's Chennai port next week.

A Pakistani trader said, "The mini mills have started production again and they have to import material to survive, whereas the primary mills have material in stock for at least two months."

Recent deals

• Around 1,000 t of shredded scrap from Europe was booked at $448-450/t CFR Qasim.
  
  
• 1,000 t of shredded scrap of US origin was traded at $462/t CFR Bangladesh.
  
  
• 1,000 t of shredded was sold at Mundra at $455/t CFR Mundra, while another 500 t of the same material was sold at $460/t.
  
  

Price assessment

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