Global ferrous scrap offers remained positive this week, supported by tight supply, improved finished steel demand, and stronger US domestic prices. Turkiye and India saw firm prices, while Bangladesh and Pakistan remained slow due to Ramadan. Japan’s export offers rose, and Vietnam showed cautious buying. South Korea and China remained largely subdued. Turkiye: The imported scrap […]
Morning Brief: India’s ferrous scrap generation is expected to grow by 8% y-o-y to 32 million tonnes (mnt) in FY’25, up from 29.7 mnt in FY’24, according to BigMint estimates. Total ferrous scrap consumption is projected to reach 40.4 mnt, widening the domestic supply deficit to 8.4 mnt. To bridge this gap, India is likely to […]
Turkish deep-sea scrap prices rose by $8/tonne (t) w-o-w as sellers held firm amid a stronger euro. However, Turkish mills showed resistance, with activity remaining slow on extremely high rates from US-based suppliers. Although the market appeared to be quiet, there were several discreet bookings, which indicates sustained demand beneath the surface. Some Turkish mills, […]
The South Asian imported ferrous scrap market showed mixed trends, with India, Pakistan, and Bangladesh remaining subdued due to weak demand and Ramadan-related slowdowns. Buyers remained cautious amid a bid-offer gap, while Turkiye saw firmer sentiment driven by rising FOB prices and resilient seller expectations. Overview India: Imported scrap demand in India stayed lukewarm, with buyers […]
Pakistan’s imported ferrous scrap market remains sluggish this Ramadan, in stark contrast to last year. The UK/EU-origin offers stand at $385-390/t CFR Qasim, with bids at $378-380/t — a widened spread and weak buying sentiment. Over the weekend, inquiries improved slightly as shredded offers climbed to $385-395/t, supported by rising freight costs and currency fluctuations. […]
Mysteel Global: Feng Hsin Steel, Taiwan’s largest rebar producer, headquartered in Taichung in central Taiwan, has decided to roll over its rebar list prices and buying prices for local scrap for transactions over March 10-14, according to a company official. For the business discussions till this Friday, the Taiwanese mini-mill continues to offer its 13mm dia […]
US ferrous scrap export offers rose amid strong demand from key markets, particularly Turkiye. Tight supply and firm seller sentiment pushed prices higher, with US-origin HMS 80:20 bulk scrap seeing gains across major destinations. FOB assessments (US East Coast, bulk) CFR assessments (bulk) Market updates on key importers Turkiye: Turkiye’s demand for US-origin ferrous scrap remains […]
Japanese H2 scrap export offers inched up w-o-w amid stronger demand, rising collection costs, and higher bids from buyers. Domestic FAS collection prices for H2 increased to JPY 40,000-41,000/t ($271-278/t) from JPY 39,500-40,500/t ($268-275/t) in the previous week. Additionally, lower H2 Japan-Vietnam freights made exports more competitive and boosted trade volumes. However, some mills remained […]
BigMint’s domestic end-cutting scrap index, tracking the Mandi Gobindgarh market, dipped by INR 200/tonne (t) d-o-d to INR 36,400/t DAP on 3 March 2025.Today, the market stayed within a narrow range, with prices in line with expectations from key mills. Steel demand was weaker than the previous trading session, highlighting the continued cautious outlook within […]
South Asia’s imported scrap markets faced sluggish activity, weighed down by weak demand, liquidity concerns, and the impact of Ramadan in Pakistan and Bangladesh. In India, buyers remained cautious amid a widening bid-offer gap and ample domestic availability, while Pakistan and Bangladesh saw reduced interest due to festive slowdowns and subdued construction activity. Meanwhile, Turkish […]