Scrap Exports and Market Trends: A Snapshot
1. India’s Robust Demand for Imported Scrap
The Indian steel market has witnessed significant improvements, leading to increased buyer activity. Here are the highlights:
- Buyer Pursuits: Buyers in India have actively pursued bookings, contributing to the stability of demand for imported scrap.
- Positive Sign: The sustained demand indicates a positive trend for the industry, driven by local market conditions.
2. Scrap Prices and Origins
Understanding the pricing dynamics and origins of scrap materials is crucial:
- HMS (80:20) Pricing:
- Scrap sourced from West Africa and Europe (HMS 80:20) is priced at approximately $400–410 per metric ton CFR (Cost and Freight).
- This category includes a mix of heavy melting steel with an 80:20 ratio of iron to steel content.
- Shredded Scrap Pricing:
- Shredded scrap, primarily from the US and Europe, commands a slightly higher price range.
- Prices for shredded scrap are in the range of $420–425 per metric ton CFR.
3. Challenges in Pakistan’s Scrap Market
Pakistan’s market for imported scrap faces specific challenges:
- Financial Limitations: Economic constraints impact the ability to import scrap materials.
- Weak Steel Demand: The overall demand for steel in Pakistan remains subdued, affecting the scrap market.
4. UK/Europe Shredded Scrap Offers
Specifically at the Qasim port in Pakistan:
- Recent Offers: Shredded UK and European scrap has been offered at $420–425 per metric ton CFR.
- Market Dynamics: These prices reflect global market trends and regional demand conditions.
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