Offer price of containerized scrap to India improve by USD 7/MT to the recovery reported in Turkey buying.
Turkey bulk scrap cargo deal US origin is heard at CFR USD 240-242/MT. Europe origin heard at USD 233-235/MT. Market participant expect price will continue to rise post China stable prices.
Offer to India also recovered after seeing Pakistan and Turkey active buying. Pakistan Shredded scrap UK origin CFR deal heard at USD 267/MT. SteelMint assessed Pakistan shredded scrap offer at USD 265-270/MT.
India offers of containerized HMS 80:20 are assessed at USD 240-245/MT where buyers continue to remain cautious. Shredded scrap are assessed CFR at USD 265-270/MT Nhava Sheva port.
“Buyer continues to hold buying of low stock in anticipation of further fall in prices” an indenter in Mumbai reported.
“We don’t expect any exporter are offering HMS 80:20 below USD 245/MT to India market” a Scrap supplier in Mumbai reported.
Middle East scrap trade is heard of heavy HMS 80:20 (25 tonne loading) at USD 255/MT CFR to have increased on the backdrop of stimulated domestic sentiments.
Global Imported Scrap Offers in Week-7:
| Particular | Size | Prices | 1W | 1M |
| CNF India | HMS(80:20), Europe | 243 | 245 | 265 |
| HMS-1, Middle East | 253 | 252.5 | 270 | |
| HMS-1&2, S.Africa | 238 | 237.5 | 265 | |
| Shredded, Europe | 265 | 265 | 295 | |
| Shredded, US | 265 | 265 | 295 | |
| CNF Taiwan | HMS(80:20), US | 240 | 250 | 255 |
| CNF Turkey | HMS(80:20), US | 242 | 236 | 293 |
| CNF Bangladesh | Shredded, Australia/Europe | 277 | 273.5 | 305 |
| HMS 80:20, Australia/Europe | 257 | 255 | 285 | |
| CNF Pakistan | Shredded, US/Europe | 267 | 265 | 295 |
Source: SteelMint Research
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