A bulk vessel of 30,500 MT Shredded scrap is found at Kandla Port. The vessel is expected to arrive Indian port by 6 Mar’16.
As per sources, it is Adani’s vessel sold to handful of group of companies namely, Mono Steel, Gallant Metal and Varrsana Ispat at around USD 205-210/MT, CFR India.
The deal was heard to have closed at USD 195-200/MT, CFR India between a USA based recycling company, Schnitzer Steel and Adani (India), a month ago.
In addition to above, the port (Kandla) had recently (15 days back) recorded another bulk vessel of Shredded scrap from USA.
As per the sources, the bulk vessel belonged to the same US based company Schnitzer. The vessel was closed at around USD 195/MT, CFR India with an Indian indentor which was further sold to companies namely ASR Multi metal, Gallantt Metal, Nilkanth Concast and Varrsana Ispat.
The vessel carried 26,400 MT of Shredded scrap.
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