en.Wedoany.com Reported - On June 3, 2026, the South Asian imported scrap market continued its sluggish trend, with weak steel demand, cautious purchasing sentiment, and poor import economics constraining trading activity in India, Pakistan, and Bangladesh. Softening sentiment in Turkey further added pressure to the overall scrap market.

India's imported scrap market remained weak. Thin steel margins, coupled with expectations of slower steel demand during the monsoon season, continued to limit buying interest. Offers for HMS 80:20 scrap from UK or European origins were heard around $360/tonne CFR India, with shredded scrap quoted at $398 to $400/tonne CFR. Market participants indicated that workable price levels were near $340/tonne CFR Chennai, well below suppliers' expectations of $365 to $370/tonne CFR. Meanwhile, a deal for 2,000 tonnes of Brazilian-origin shredded scrap was heard concluded at $405/tonne CFR Nhava Sheva. Participants also noted that bulk scrap procurement plans are currently under management review, with future purchases to be determined based on production and consumption plans.

Pakistan's imported scrap market was similarly subdued, with only limited improvement in buying activity as buyers maintained bids around $415 to $420/tonne CFR Qasim. Recent transactions included Canadian-origin shredded scrap at $416/tonne CFR, UK-origin shredded at $418/tonne CFR, and Malaysian-origin HMS scrap bundles at $386/tonne CFR. Higher shredded offers ($415 to $425/tonne CFR) continued to face buyer resistance.

Bangladesh's imported scrap market remained weak, with limited new booking activity this week. Market participants reported that a 1,000-tonne containerized cargo of Danish-origin HMS 80:20 was sold at around $390/tonne CFR Bangladesh, while buying interest remained cautious due to weak finished steel demand. Offers were still heard from multiple sources: Japanese-origin H2 scrap was heard at $420 to $425/tonne CFR Bangladesh, New Zealand-origin shredded at $418/tonne CFR, UK-origin shredded at $410 to $415/tonne CFR, and HMS 80:20 at $380 to $385/tonne CFR. Philippine-origin galvanized scrap bundles were also heard offered at $345/tonne CFR Bangladesh.

Turkey's deep-sea imported scrap market softened day-on-day, driven by weak downstream steel fundamentals and persistent margin pressure. Market participants reported increased selling pressure, with workable levels for US-origin HMS 80:20 heard at $400 to $405/tonne CFR and European-origin material below $400/tonne CFR. Sentiment remained bearish, supported by rising scrap supply and a growing number of sellers. The latest HMS 80:20 transaction was reportedly around $397/tonne CFR, leading some participants to expect further price declines.

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