South Asian ferrous scrap markets remain sluggish
The South Asian ferrous scrap market saw tardy movement for yet another day, as buyers in India and Bangladesh remained almost silent with low buying activities being wit...
The South Asian ferrous scrap market saw tardy movement for yet another day, as buyers in India and Bangladesh remained almost silent with low buying activities being witnessed. A deal, however, was concluded for Pakistan at a level similar to previous offers.
A few buyers in India kept a close watch on the market dynamics ahead of taking procurement decisions as bid-offer disparity still remains. Meanwhile, Pakistani buyers struggled with LC opening restrictions which hampered trading activities.
Imported scrap prices have decreased slightly d-o-d as negotiations slowed down due to LC issues.
Recent deal:
Around 1,000 t of containerised shredded scrap of European origin was booked at $462/t CFR Qasim.
SteelMint's price assessments
- Europe-origin shredded scrap offers into India are at $460/t CFR Nhava Sheva, stable d-o-d.
- UK-origin shredded scrap prices stand at $475/t CFR Chittagong, down $3/t compared to previous offers.
- UK-origin shredded scrap prices are at $463/t CFR Qasim, down $2/t compared to previous offers.
