Three bulk scrap vessels booked for India for November delivery, according to market sources.
Indian scrap importers have resumed bulk bookings after a gap of four months. SteelMint learnt from sources that three bulk vessels have been booked from US and UK for Indian steel mills based western region.
According to sources, mixed cargo has been booked in the range of USD 235-238/MT and shredded at around USD 240-245/MT, CFR India.
Rising scrap imports is a result of increasing domestic steel prices, which have increased by around INR 2,000-3,000/MT (USD 40-45/MT) in last one month.
Market participants stated that sharp increases in coking coal prices have increased the production cost of blast furnace manufacturers. While, the production cost of induction furnace or electric arc furnace operators are immune from rising coking coal prices and also they have margins at the moment.
Imports will also increase as steel mills have not booked much material in last few months, mentioned participants.
Indian Bulk Scrap Imports
SteelMint recorded 22 bulk vessels of scrap in 2016, carrying about 550,000 MT of scrap. Bulk scrap imports contributed 14% of total Indian scrap imports, which is 4 MnT in 2016 (till Aug’16).
Bulk Vessel of Imported Scrap for Year 2016 till Aug’16
| Origin | Buyers | Grade | Dsicharge Port | |||
| 8 Jan’16 | Puget Sound | 22,800 | Kandla | USA | MTC/ASR/Electrotherm/Varsana | SH Scrap |
| 15 Jan’16 | Dl Pansy | 42,000 | Kandla | USA | Hariana Group | SH Scrap |
| 12 Feb’16 | Tasman Sea | 26,400 | Kandla | USA | ASR/Galant/Varsana/Neelkant | SH Scrap |
| 2 Mar’16 | Elliott Bay | 26,250 | Kandla | USA | ASR | SH Scrap |
| 2 Mar’16 | Harmony Sw | 10,500 | Chennai | Australia | MTC | SH Scrap |
| 7 Mar’16 | Aurora Bulker | 30,500 | Kandla | USA | Adani/Mono Steel | SH Scrap |
| 21 Mar’16 | Postojna | 35,200 | Kandla | Netherland | Varsana/Galantata/Electrtherm/ Neelakanth |
SH Scrap |
| 23 Mar’16 | Tai Shan | 10150 | Chennai | Japan | MTC | SH Scrap |
| 23 Mar’16 | Sea Star | 44,000 | Chennai | South Africa | MTC | SH Scrap |
| 24 Mar’16 | Victoria Harbour | 19,300 | Chennai | USA | MTC | SH Scrap |
| 28 Mar’16 | Venture Sw | 9,500 | Chennai | Japan | Kamachi | SH Scrap |
| 8 Apr’16 | Team Hope | 31,000 | Kandla | USA | ASR/ Mono Steel/ Gallant | SH Scrap |
| 14 Apr’16 | Cape Moreton | 27,500 | Chennai | USA | Kamachi | HMS/SH |
| 19 Apr’16 | Golden Gemini | 40,500 | Chennai | South Africa | Surya Dev | SH Scrap |
| 14 Apr’16 | Stove Campbell | 35,000 | Kandla | USA | MTC | SH Scrap |
| 10 May’16 | Yuan Hang | 6,500 | Kandla | China | N/A | SH Scrap |
| 18 May’16 |
Loch Melfort | 20,900 | Kandla | USA | Varsana | HMS |
| Loch Melfort | 9,000 | Kandla | USA | Electrotherm | SH Scrap | |
| 9 Jun’16 | Sentosa Bulker | 15,130 | Chennai | USA | Kamachi | HMS |
| 9 Jun’16 | Sentosa Bulker | 10,000 | Chennai | USA | Kamachi | SH Scrap |
| 18 Jun’16 | Calima | 32,800 | Vizag | USA | MTC | Steel Scrap |
| 1 Jul’16 | Poavosa Wisdom | 19,800 | Kandla | Japan | N/A | Steel Scrap |
| 8 Jul’16 | Sunrise Bright | 27,500 | Chennai | USA | MTC | SH Scrap |
| Total | 552,230 | |||||
Quantity in MT
Source: SteelMint Research
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