In India, the daily Davis Index for containerised shredded dropped by $2/mt to $258/mt cfr Nhava Sheva on Thursday. Shredded in containers was offered at $255-265/mt cfr Nhava Sheva with bids lower than market rates. Bids for HMS 1&2 (80:20) dropped by $5-10/mt to $230-235/mt cfr Nhava Sheva.
In Pakistan, the daily Davis Index for containerised shredded settled at $271/mt cfr Port Qasim on Thursday, up by $1/mt. The daily Davis Index for HMS 1&2 (80:20) UAE origin settled at $250/mt cfr Qasim, down $5/mt from the prior day.
UAE suppliers offered HMS1&2 (80:20) at $250-255/mt cfr Qasim. Offers for #1 HMS and P&S mix were at $260-265/mt cfr Qasim with no takers. UK-origin shredded traded at $270-275/mt cfr Qasim. The UAE government has announced a ban on ferrous scrap exports for four months.
In Bangladesh, the daily Davis Index for containerised shredded scrap settled unchanged at $275/mt cfr Chattogram on Thursday. Demand from mills remained very limited. Still, offers for shredded rose to $275-280/mt cfr Chattogram.
The daily index for Latin America-origin HMS 1&2 (80:20) settled at $250/mt cfr Chattogram, down by $5/mt.Trades concluded in the range $245-250/mt cfr Chattogram. The index for US-origin HMS 1&2 (80:20) settled at $258/mt cfr Chattogram, down from $260/mt cfr Chattogram. Bids subsequently dropped to $250-255/mt cfr Chattogram.
East Asia
In Taiwan, the daily Davis Index for containerised HMS 1&2 (80:20) settled at $228/mt cfr Taiwan on Thursday. Offers from US suppliers for HMS 1&2 (80:20) were at $230-235/mt cfr Taiwan.