Price【SMM Announcement】Launching New Shredded Steel Scrap CFR Pakistan and Bangladesh Spot Price Assessments

Dear Customers,

To provide a more comprehensive and accurate reflection of the South Asian imported ferrous scrap market, Shanghai Metals Market (SMM), following extensive market research and consultation with industry participants, has decided to launch two new shredded steel scrap spot price assessments on 23 September 2026:

• Shredded Steel Scrap ISRI 211 CFR Port Qasim, Pakistan

• Shredded Steel Scrap ISRI 211 CFR Chattogram, Bangladesh

Pakistan and Bangladesh are important destination markets for containerised ferrous scrap in South Asia. Import prices can vary according to origin, material quality, cargo density, freight, payment conditions and delivery schedules. The absence of directly comparable benchmarks can make it difficult for market participants to evaluate prevailing CFR levels across the two markets.

The new assessments will provide standardised daily references for containerised ISRI 211 shredded scrap delivered to Port Qasim and Chattogram. They will help scrap suppliers, traders, steelmakers and other market participants compare regional prices, evaluate procurement costs and manage exposure to market fluctuations.

▍Details of the New Price Assessments:

▍Common Notes:

• Price type: Spot price benchmarks assessed under the SMM pricing methodology.

• Tax basis: VAT excluded.

• Quality standard: ISRI 211.

• Display precision: Prices will be published to the nearest whole USD/tonne.

• Cargo basis: Containerised cargo.

• Origin basis: All origins.

• The assessments exclude applicable destination import duties and taxes.

• Non-base grades and payment conditions will be normalised to the relevant ISRI 211 CFR benchmark.

▍Quality Specification:

ISRI 211 shredded scrap comprises homogeneous iron and steel scrap that has been magnetically separated. The material may originate from automobiles, unprepared No. 1 and No. 2 steel scrap, miscellaneous baling scrap and sheet scrap. The reference average density is 70 pounds per cubic foot.

▍Per-Assessment Parameters:

• CFR Port Qasim: Published daily on business days at 14:00 India time; L/C payment settled in US dollars; minimum quantity of 500 tonnes; delivery within 4–6 weeks.

• CFR Chattogram: Published daily on business days at 14:00 India time; L/C at sight settled in US dollars; minimum quantity of 500 tonnes; delivery within 4–6 weeks.

▍Methodology Note:

The assessments will be determined using validated transactions, bids, offers and other relevant market information gathered through SMM’s market-engagement process. Submitted information will be reviewed and, where necessary, normalised for differences in origin, grade, quality, payment terms, quantity and delivery period.

Both assessments will be formulated and published in accordance with the SMM pricing methodology to reflect mainstream spot-market levels for containerised ISRI 211 shredded scrap delivered to Port Qasim and Chattogram under the stated specifications and trading terms.

For questions or suggestions concerning the new assessments, please contact us.

Shanghai Metals Market (SMM)

Steel Research Team

11 September 2026