Imported scrap offers from North America correct by few dollars on low demand from Asian countries highlighted market sources.
Current offers from North America stands at around $425/t, CFR Mumbai for HMS-1 and aorund $410-415/t , CFR Mumbai for 80:20, said Mr Puneet Gupta, an exporter based in Canada.
Although Indian buyers mention that they have offers from Europe and Africa at around $400-405/t CFR, Mumbai for HMS 80:20.
“Most of buyers in India are not taking positions in scrap market over the fact that domestic sponge iron and scrap prices are competitive.Although they might take interest if Rupee strengthens further.” said an Indian importer based in Mumbai.
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