SteelMint learnt from recent conversations with market participants that in line with the recent downwards trend in all South Asian markets, offers for imported Scrap to India were pulled down by very slow buying activity.
SteelMint’s offers for containerized Shredded from the UK, Europe and the USA to India have come down to USD 280-284/MT, CFR Nhava Sheva, down by USD 7-10/MT against last week’s report. No major trades for Shredded scrap were reported this week as well.
Few trades for imported HMS scrap were observed as offers moved down, with HMS 1 from Hondorus and other Central American regions being sold at USD 270/MT CFR Nhava Sheva. Offers for South African origin handloaded HMS 1 stood in the range of USD 265-270 CFR.
UAE origin HMS offers also plumetted significantly against last week, with HMS 1 super (no ci gi) from Dubai standing in the range of USD 270-274/MT CFR. European and UK origin HMS 1&2 (80:20) was being offered at around USD 255-257/MT CFR.
West African HMS 1&2 (80:20) was reportedly sold at USD 260/MT CFR Goa this week. Few sales for Turning Scrap were also reported in the range of USD 235-240/MT with buyers trying to average out their price for raw material import, while offers for P&S now stand at around 290/MT CFR.
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