SteelMint learned from market participants that Indian imported scrap market has remained firm in terms of Shredded prices, on the other hand, HMS scrap offers have corrected against the last report. After a recent jump in Turkish prices, sellers turn non-aggressive and remained resistant in offering much.
SteelMint’s assessment for containerized Shredded from the Europe and USA stand in the range USD 320-325/MT, CFR Nhava Sheva, up marginally on W-o-W basis.
Shredded scrap from UK and Europe traded in containers recently in the range USD 320-325/MT, CFR Nhava Sheva.
Shredded scrap being offered in bulk cargoes has observed a marginal lift to the levels USD 325-327/MT, CFR Nhava Sheva.
Dubai based containerized HMS 1 is being offered at around USD 318-320/MT, CFR Nhava Sheva. While offers from the Middle East for HMS remained stable in the range of USD 310-315/MT, CFR depending on quality.
Offers for HMS 1&2 (80:20) from Europe and UK assessed at around USD 300-305/MT, CFR Nhava Sheva, down USD 5-10/MT on W-o-W basis.
West African HMS 1&2 scrap assessed in the range USD 300-310/MT, CFR broadening the range against the last assessment.
Limited trades are happening at the moment as sentiments in local finish steel market have still remained bearish and participants see no stronger reason for a further jump in prices in the global market.
Indian domestic scrap prices weaken on W-o-W basis – Local HMS scrap prices in all major regions have weakened further on bearish sentiments on a weekly basis in India. Price assessment for HMS 1&2 (80:20) stands at INR 24,800-25,000/MT (USD 349-352), ex- Mumbai, down INR 200-300/MT on a weekly basis. Chennai based local HMS (80:20) prices stand at around INR 24,200/MT, ex- Chennai, almost stable W-o-W, 18% GST extra.
Ship plate prices fell back to earlier level after taking a lift by INR 400-500/MT in mid of the week to INR 29,900/MT, ex-Alang levels today for 16 mm plate, which remained stable against the last week.
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