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.