The South Asian and Turkish imported scrap markets exhibited mixed activity today, with India seeing slight gains in containerised shredded prices due to supply constraints from the US and improved domestic sentiments. Meanwhile, Pakistan remained quiet as buyers eased into the holiday period, while Bangladesh’s market showed steady sentiment, supported by scrap shortages and firm […]
Last week, global ferrous scrap markets witnessed a largely stable price trend, with limited trading activity across key markets. Prices saw slight declines due to the holiday season, weak demand, and economic uncertainties. Mills were cautious, postponing bookings, while domestic scrap prices held steady in several markets. The market remained subdued, with limited expectations of […]
Turkish imported ferrous scrap prices fell by $2/t w-o-w in the final week of the year, driven by reduced market activity ahead of the Christmas and New Year holidays. Low rebar demand made Turkish mills hesitant to purchase more scrap, dampening market confidence and limiting the potential for any price recovery in the near term. […]
The Bangladesh imported scrap market remained slow this week due to ongoing LC challenges and weak finished steel demand. Imported scrap prices increased by $9/tonne (t) although steel mills and importers reported limited buying interest as ample inventories and subdued rebar sales continue to weigh on sentiments. BigMint’s weekly assessments Market comments According to a […]
BigMint’s domestic end-cutting scrap index, tracking the Mandi Gobindgarh market remained steady at INR 36,900/t DAP on 17 December 2024. The steel scrap market is witnessing moderate trade activity, with mills opting to procure scrap strictly based on their immediate production requirements. Despite steady domestic demand, imported scrap buying has been largely put on hold […]
This week, global ferrous scrap markets faced continued softness, driven by weak steel demand, high inventories, and cautious sentiment. Turkiye, India, and Pakistan saw price declines, while Bangladesh and Vietnam experienced limited activity. Issues like low rebar sales, financial challenges, and uncertainty over import duties weighed on the market, keeping trade minimal across key regions. […]
SteelDaily: This week, the combined ferrous scrap inventory of eight major South Korean steel mills remained largely stable. There was a marginal hike, which could be attributed to cuts in scrap procurement prices nationwide. The lower prices led to slightly higher inventory levels, as steelmakers stocked up on scrap. Stocks were up marginally by 0.5% to […]
In Bangladesh, UK-origin shredded scrap prices rose following global cues despite sluggish demand, LC constraints, and construction delays impacting the market. European HMS (80:20) was offered, while the containerised scrap market stayed quiet as major buyers favoured smaller deals. US bulk offers remained largely unviable. Market comments BigMint’s weekly assessments Around 2,500t of HMS (80:20) […]
South Asian ferrous scrap offers witnessed a slight uptick despite limited buying interest across markets. In India, bid-offer mismatches and festivities put a brake on seaborne scrap activity, though recent steel price hikes hint at a possible rebound in demand. Meanwhile, Pakistan’s imported scrap market showed slight gains amid limited local activity, bolstered by recent […]
BigMint’s domestic end-cutting scrap index, tracking the Mandi Gobindgarh market, increased by INR 300/t to INR 35,600/t DAP on 4 November 2024.The steel market appeared to be stable in terms of demand, although transportation issues related to the ongoing festival season impacted scrap arrivals. Scrap traders tried to milk this opportunity and raise their offers […]