South Asia: Imported scrap trades remain moderate after recent Turkiye deal

The imported scrap market in South Asian countries remained moderate today. Despite hikes in prices, Indian mills were active in booking imported material from the Middle East and the UK, and a few deals were concluded at around $450-55/t. Meanwhile, Pakistani mills witnessed limited deals concluded at higher prices. Bangladesh-based mills are still struggling with LC opening issues. Imported scrap prices are moving up after the recently-concluded Turkiye deal.

A Mediterranean region-based steel mill booked a European bulk cargo comprising 30,000 t HMS (80:20), 5,000 t shredded, 5,000 t P&S, and HMS 1 scrap at an average price of $402/t CFR Turkiye, SteelMint learnt.

Recent deals:

Around 2,100 t of containerised shredded scrap of European origin was booked at $455/t CFR Nhava Sheva. |

Around 500 t HMS (80:20) of West African origin was booked at $430/t CFR Nhava Sheva.

Around 40,000 t of shredded bulk scrap of US origin was booked recently at $450/t CFR Nhava Sheva.

Around 500 t of shredded scrap of European origin was booked at $465/t CFR Qasim.

SteelMint's price assessment

• Europe-origin shredded scrap offers into India were at $458/t CFR Nhava Sheva, up slightly by $6/t d-o-d.
  
  
• UK-origin shredded scrap prices stood at $470/t CFR Chittagong, an increase of $5/t compared to previous offers.
  
  
• UK-origin shredded scrap prices are at $465/t CFR Qasim, up $5/t compared to last offers.