{"id":61139,"date":"2026-03-24T11:43:25","date_gmt":"2026-03-24T05:43:25","guid":{"rendered":"https:\/\/biztrend24.com\/?p=61139"},"modified":"2026-03-24T11:43:25","modified_gmt":"2026-03-24T05:43:25","slug":"south-asia-imported-scrap-buying-subdued-indian-markets-face-currency-pressure","status":"publish","type":"post","link":"https:\/\/biztrend24.com\/?p=61139&lang=en","title":{"rendered":"South Asia: Imported scrap buying subdued; Indian markets face currency pressure"},"content":{"rendered":"<ul>\n<li style=\"list-style-type: none;\">\n<ul>\n<li>India weak, imports unviable, demand sharply subdued<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<ul>\n<li style=\"list-style-type: none;\">\n<ul>\n<li>Pakistan, Bangladesh quiet; Turkiye firm on tight supply<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p>South Asia scrap markets remained weak on 23 March, with Indian markets under pressure due to the rupee hitting record lows compared to the US dollar, while Pakistan and Bangladesh saw limited activity due to holidays and cautious buying. Turkiye stayed firm, but overall sentiment remained subdued.<\/p>\n<p>India:\u00a0India market has crashed, with sentiment turning weak across regions. The rupee fell further to just under INR 94 against the dollar, pushing buyers into a cautious mode. At these exchange rates, imports are largely unviable, leading to restricted buying interest, while domestic material remains more competitive.<\/p>\n<p>The international market is subdued, with Turkiye showing no major movement. At the same time, ongoing Middle East tensions have kept Indian importers hesitant due to supply chain uncertainties. Current market indications show UK-origin HMS 80:20 at $365-370\/t CFR, while shredded is at $385-390\/t. With weak demand and cost pressures, HMS 80:20 prices are expected to soften further towards $350\/t in the near term.<\/p>\n<p data-start=\"0\" data-end=\"420\"><span class=\"hover:entity-accent entity-underline inline cursor-pointer align-baseline\"><span class=\"whitespace-normal\">Pakistan<\/span><\/span>:\u00a0UK-origin shredded scrap was last heard near $410\/t CFR Qasim, with trading activity largely stalled due to the ongoing Eid al-Fitr holidays, keeping market participation limited.<\/p>\n<p>Bangladesh:\u00a0Bangladesh market remained cautious d-o-d, with mills keeping quotations open amid ongoing freight uncertainty. Imported scrap prices stayed firm due to elevated shipping costs, while buying interest remained limited as finished steel prices continued to offer only basic margins. Hong Kong-origin PNS was heard at $405-410\/t CFR Chattogram, with HMS 80:20 at $375-380\/t.<\/p>\n<p>On the domestic front, rebar prices have increased across major mills post-war, reflecting cost-push pressures. However, with Eid al-Fitr approaching, demand is expected to stay subdued, likely limiting near-term trading activity.<\/p>\n<p>Turkiye:\u00a0Deep-sea scrap import prices in Turkiye moved up d-o-d, with fresh deals heard at $385-390\/t CFR from US, Baltics, and UK origins. A European supplier reportedly sold at $385\/t to a buyer, while US-based deals were heard near $388\/t, indicating firming sentiment since late last week.<\/p>\n<p>The upward trend is supported by elevated freight and energy costs amid ongoing Middle East tensions, along with tightening supply conditions, which continue to push sellers offers higher and keep the market firm.<\/p>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-734049 size-full\" src=\"https:\/\/i0.wp.com\/wp-insights-sm.s3.ap-south-1.amazonaws.com\/wp-content\/uploads\/2026\/03\/WhatsApp-Image-2026-03-23-at-19.04.31-1.jpeg?resize=640%2C182&#038;ssl=1\" alt=\"South Asia: Imported scrap buying subdued; Indian markets face currency pressure\" width=\"640\" height=\"182\" \/><\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>India weak, imports unviable, demand sharply subdued Pakistan, Bangladesh quiet; Turkiye firm on tight supply&#8230;<\/p>\n","protected":false},"author":1,"featured_media":61140,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[313],"tags":[],"class_list":["post-61139","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-iron-steel"],"jetpack_publicize_connections":[],"featured_image_urls":{"full":["https:\/\/i0.wp.com\/biztrend24.com\/wp-content\/uploads\/2026\/03\/Untitled-design-7.jpg?fit=1280%2C720&ssl=1?v=1774330955",1280,720,false],"thumbnail":["https:\/\/i0.wp.com\/biztrend24.com\/wp-content\/uploads\/2026\/03\/Untitled-design-7.jpg?resize=150%2C150&ssl=1?v=1774330955",150,150,true],"medium":["https:\/\/i0.wp.com\/biztrend24.com\/wp-content\/uploads\/2026\/03\/Untitled-design-7.jpg?fit=300%2C169&ssl=1?v=1774330955",300,169,true],"medium_large":["https:\/\/i0.wp.com\/biztrend24.com\/wp-content\/uploads\/2026\/03\/Untitled-design-7.jpg?fit=640%2C360&ssl=1?v=1774330955",640,360,true],"large":["https:\/\/i0.wp.com\/biztrend24.com\/wp-content\/uploads\/2026\/03\/Untitled-design-7.jpg?fit=640%2C360&ssl=1?v=1774330955",640,360,true],"1536x1536":["https:\/\/i0.wp.com\/biztrend24.com\/wp-content\/uploads\/2026\/03\/Untitled-design-7.jpg?fit=1280%2C720&ssl=1?v=1774330955",1280,720,true],"2048x2048":["https:\/\/i0.wp.com\/biztrend24.com\/wp-content\/uploads\/2026\/03\/Untitled-design-7.jpg?fit=1280%2C720&ssl=1?v=1774330955",1280,720,true],"covernews-slider-full":["https:\/\/i0.wp.com\/biztrend24.com\/wp-content\/uploads\/2026\/03\/Untitled-design-7.jpg?resize=1115%2C715&ssl=1?v=1774330955",1115,715,true],"covernews-slider-center":["https:\/\/i0.wp.com\/biztrend24.com\/wp-content\/uploads\/2026\/03\/Untitled-design-7.jpg?resize=800%2C500&ssl=1?v=1774330955",800,500,true],"covernews-featured":["https:\/\/i0.wp.com\/biztrend24.com\/wp-content\/uploads\/2026\/03\/Untitled-design-7.jpg?fit=1024%2C576&ssl=1?v=1774330955",1024,576,true],"covernews-medium":["https:\/\/i0.wp.com\/biztrend24.com\/wp-content\/uploads\/2026\/03\/Untitled-design-7.jpg?resize=540%2C340&ssl=1?v=1774330955",540,340,true],"covernews-medium-square":["https:\/\/i0.wp.com\/biztrend24.com\/wp-content\/uploads\/2026\/03\/Untitled-design-7.jpg?resize=400%2C250&ssl=1?v=1774330955",400,250,true]},"author_info":{"display_name":"Biz Trend 24","author_link":"https:\/\/biztrend24.com\/author\/online24"},"category_info":"<a href=\"https:\/\/biztrend24.com\/?cat=313&#038;lang=en\" rel=\"category\">Iron &amp; Steel<\/a>","tag_info":"Iron &amp; Steel","comment_count":0,"jetpack_featured_media_url":"https:\/\/i0.wp.com\/biztrend24.com\/wp-content\/uploads\/2026\/03\/Untitled-design-7.jpg?fit=1280%2C720&ssl=1?v=1774330955","jetpack-related-posts":[{"id":51579,"url":"https:\/\/biztrend24.com\/?p=51579&lang=en","url_meta":{"origin":61139,"position":0},"title":"South Asias imported scrap markets remain muted; Turkish prices firm","author":"Biz Trend 24","date":"December 23, 2025","format":false,"excerpt":"Turkiye prices held steady supported by firm seller resistance Pakistan and Bangladesh markets stayed quiet with thin trading South Asia's imported scrap markets remained largely subdued, with cautious buying across India, Pakistan, and Bangladesh amid weak steel demand and holiday disruptions. 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