en.Wedoany.com Reported - As of April 21, the scrap import market in the South Asia region is facing overall pressure, with weakening demand in India, narrow fluctuations in the Pakistani market, steady procurement in Bangladesh, and slight price increases in Turkey. Although high freight rates support offers, the cautious stance of steel mills is suppressing new trading activity.

India's scrap import market continues to be under pressure, with a wide bid-offer spread hindering new deals. UK-origin shredded scrap is offered at $400/tonne CFR Nhava Sheva, while buyers' acceptable price is around $380-385/tonne. Some market participants believe even $390/tonne is not feasible. Heavy melting scrap is offered around $375/tonne, PNS at $385/tonne, and shredded scrap close to $390/tonne, indicating weak buying sentiment. Sporadic deals were concluded, such as European-origin MS turnings (1,000 tonnes) at $348/tonne CFR Chennai, New Zealand heavy melting scrap (1,000 tonnes) at $390/tonne, and UK-origin blue steel (500 tonnes) at $420/tonne CFR Nhava Sheva. The depreciation of the rupee has increased landed costs, leading buyers to maintain a cautious approach.

Pakistan's scrap import market is weak but stabilizing, with UK/EU-origin shredded scrap largely workable around $420/tonne CFR Qasim. Several deals were concluded at $420-424/tonne for 1,000-tonne parcels, with bundled scrap offers around $415/tonne. Market sentiment remains cautious, with ongoing range-bound volatility. Bangladesh's scrap import prices are largely stable, with PNS offers at $430-440/tonne CFR. A deal for Australian-origin HMS 80:20 was concluded at $390/tonne CFR Chittagong, reflecting stable purchasing interest.

Turkish deep-sea scrap prices rose slightly on April 21, with US-origin HMS 80:20 tradable value at $401-406/tonne CFR, supported by high-level new trading activity. Firm freight rates are a key driver, tightening sellers' positions and pushing up offers. However, weak downstream demand is causing steel mills to resist further price increases, leading to cautious market sentiment. Rebar export activity remains sluggish, with bids at $575-580/tonne FOB, limiting mills' ability to absorb higher scrap costs and keeping buying interest selective.

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