Ferrous
scrap offers to India remain firm with rise in demand. Few deals have been closed
last week with offers at $395-410/MT CFR Kandla including HMS and shredded
material in Kandla.
In
a recent deal, HMS (80:20) was sold at $395/MT CFR Kandla for a small tonnage
of 610 MT with container loading of 20 MT. Shredded is offered in the range of
$407-410/MT CFR, depending upon the origins.
“Sentiments
in the market are improving. Buyers are booking at higher prices too with the
support of domestic steel demand. E-billing system for scrap trading in the
Northern region has supported the consumption of scrap. It has resulted in the
healthy demand for imported scrap. More deals are likely to happen in the
coming weeks”, said a major scrap importer based in Mumbai.
“Being
a top consumer of imported scrap in India, North Indian market is likely to
demand for more scrap cargoes”, he added.
Offers
for shredded scrap in Mumbai are also hovering at $408-410/MT CFR Nhava Sheva.
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