SteelMint learned from market participants that Indian imported scrap market has observed improvement in trades this week against previous week.
SteelMint’s assessment for containerized Shredded from the UK and Europe stands in the range USD 322-325/MT, CFR Nhava Sheva. Offers have remained unchanged against last week. Few Shredded scrap trades from Europe were reported at around USD 325/MT, CFR basis.
Dubai origin HMS 1 scrap offers stand in the range USD 325/MT, CFR Nhava Sheva and that for HMS (80:20) was assessed around USD 320/MT, CFR.
The assessment of West African HMS 1&2 scrap stands at around USD 307-310/MT, CFR for loading in 20-21 MT containers, however, very limited offers were available in the market as most of the yards are already closed. Minor trades for West African scrap reported at around USD 306-307/MT, CFR Goa.
The assessment of South African HMS 1&2 stands at around USD 330/MT, CFR and that of HMS 1&2 (80:20) from Europe and UK at around USD 320/MT, CFR Nhava Sheva.
Despite weakening in Turkish imported scrap prices, Indian market has remained firm. Enquiries have improved but no major deals being closed. Trade sources believe activities to gain momentum further next week.
Indian domestic scrap prices exhibit a mixed trend on W-o-W basis – Local HMS scrap prices in all major regions have shown mixed trends on a weekly basis in India. Price assessment for HMS 1&2 (80:20) stands at INR 25,100-25,300/MT (USD 363-366), ex- Mumbai, down INR 300-400/MT as against last week’s report. Chennai based local HMS (80:20) prices stand at around INR 24,300/MT, ex- Chennai, up INR 200/MT W-o-W, 18% GST extra.
Ship plate prices stand at around INR 30,100-30,200/MT, ex-Alang levels for 16 mm plate today, down INR 500-600/MT W-o-W.
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