South Asia's ferrous scrap market remains quiet; few bookings heard for India

The South Asian ferrous scrap market remains subdued with fewer enquires seen today. The Pakistan market, in particular, remains muted and is expected to be like this for a few more days as the economic crisis still persists.

India's ferrous scrap market saw a few deals of Europe-origin concluded but is still dull. Buyers are not active in containers as major players are preferring to bulk bookings. Meanwhile, the Bangladesh market is dormant with no deals heard for the day.

However, Turkish mills booked scrap from the USA last Friday at a lower price as compared to offers prior to the earthquake.

Recent deals

• Around 1, 000 t of containerised shredded of Europe-origin has been booked at $460/t CFR Nhava Sheva.
  
  
• Around 500 t of containerised HMS(80:20) of Europe-origin has been booked at $445-450/t CFR Nhava Sheva.
  
  

Price assessments

• Europe-origin shredded scrap offers into India were at $460/t CFR Nhava Sheva, down by $3/t d-o-d.
  
  
• UK-origin shredded scrap prices stood at $495/t CFR Chittagong, unchanged d-o-d.
  
  
• UK-origin shredded scrap prices were at $465/t CFR Qasim, down by $8/t d-o-d.