[SMM Steel] Indian Mills Favour Sponge Iron; Imported Scrap Demand Weakens

Published: Aug 13, 2026 16:05

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[India] Imported scrap demand remained weak as mills increased sponge iron and pig iron consumption. Shredded scrap was heard at 415USD/tonne CFR Port Qasim, against 365USD/tonne CFR India. HMS stood at 395–400USD/tonne CFR Port Qasim, compared with around 350USD/tonne CFR India. Indian levels remained indicative due to the absence of active buyers, with cargoes moving towards Port Qasim and Chittagong instead. Indian HRC was last heard at 650USD/tonne CFR Europe.

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