The imported
scrap market is going through a numb phase as buyers fail to show any initiation.
According to sources,the offers quoted from Europe, HMS (1&2) are hovering
around USD 345/MT CFR Nhava Sheva. Similarly, HMS (1&2) offers from Dubai are
at around USD 330-335/MT CFR Nhava Sheva and CFR Kandla at USD 335/MT. On the
other side, the Shredded Scrap offers from Europe are quite high and no one is willing
to take position.
However,
Turkish mills had booked scrap in advance on account of fall in dollar prices. According to industry
sources, on 10th July 2013, two cargoes were booked by Turkish mills, the
quantity has not been known. The first cargo was booked at USD 364/MT CFR
Iskenderum (Turkey) and the second cargo was booked at USD 371/MT CFR Aliaga
(Turkey). Scrap booked for August delivery by Turkish mills is primarily from
West Europe, Balastic port, US East coast and others.
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