South Asia: Imported ferrous scrap market volatile, India leads the booking race

The South Asian imported scrap market continues to remain volatile as most buyers are showing limited interest at current offers due to weak sentiments in the finished and semi-finished steel markets.

Indian buyers are cautiously making moderate-level of bookings and negotiating prices, partly influenced by the lack of major activities in neighbouring countries like Bangladesh and Pakistan. Although UK-origin shipments have been booked for Nhava Sheva on an LC basis, slow demand for finished steel is hindering active scrap bookings. India In