en.Wedoany.com Reported - On June 11, trading in the South Asian scrap market remained sluggish, with weak steel demand, cautious mill purchasing, and wide bid-ask spreads limiting activity in India, Pakistan, and Bangladesh. Meanwhile, Turkey's deep-sea scrap market remained largely stable, though weak finished steel demand continued to exert pressure.

India's imported scrap market remained subdued, with limited buying interest due to weak steel demand and thin mill margins. Offers for UK-origin HMS (80:20, 3% impurities) in bulk were around $360/tonne CFR India, while containerized HMS offers were near $340/tonne CFR. Market participants noted that buyers continued to resist high prices, bidding around $345/tonne CFR for cargoes with 1% impurities and $330/tonne CFR for those with 3% impurities, resulting in slow trading activity.

Pakistan's imported scrap market was similarly sluggish, with limited mill buying interest due to weak finished steel sales and cautious inventory management. Buyers were unwilling to accept offers above $420/tonne CFR Port Qasim, with reported deals including UK-origin shredded scrap at $416/tonne CFR and Belgian-origin shredded scrap at $415/tonne CFR. Offers for German-origin shredded scrap stood at $430/tonne CFR Port Qasim, while UK-origin offers were around $417/tonne CFR. Market participants indicated that workable prices were near $415-416/tonne CFR, with any uptick in buying demand dependent on improved finished steel sales.

Bangladesh's imported scrap market remained quiet, with cautious mill purchasing due to weak steel demand and persistent bid-ask spreads. Bids for shredded scrap were around $410/tonne CFR, while offers remained higher: Australian-origin material at $420-425/tonne CFR and UK-origin shredded scrap at $425-430/tonne CFR. Domestic scrap prices rose to BDT 55,000-56,000/tonne ($448-456/tonne), providing some support to local market sentiment.

In Turkey, the deep-sea imported scrap market was largely stable on June 11 at around $406/tonne CFR. Mills continued to delay new purchases amid weak domestic and export finished steel demand. Market sentiment remained cautious, with domestic billet prices falling a further $10/tonne after Kardemir's price cut, while weak rebar sales and squeezed margins kept buyers on the sidelines. However, the need to secure cargoes for July shipment may provide some short-term support to the market.

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