According to customs data maintained with SteelMint, bulk scrap imports to India remained nil in May’17. Indian importers have booked around 8-10 bulk vessels in the month of May for which delivery is expected in June and July.
A bulk import vessel “New General” carrying 20,400 MT ferrous scrap of US origin arrived at berth on Vizag port on 03 Jun’17. This is the 4th bulk scrap vessel to India in CY17. Prior to this three bulk vessels from USA arrived at Indian ports in Jan’17 with total quantity of 82,010 MT.
Indian importers prefer bulk cargoes due high disparity in freight charges, container being more expensive. Bulk offers are assessed at around USD 290/MT CFR India west coast.
*Jun’17 data updated till 03 Jun
Imported Scrap Offers to India
Imported scrap offers to India remain stable on thin trade activities. Buyers prefer to wait as they anticipate prices may fall in coming weeks. Current offers for containerized Shredded scrap are at USD 295-300/MT CFR Nava Sheva, India, HMS 1&2 at USD 275-280/MT CFR Nava Sheva from Europe and US. HMS 1&2 from Middle East are at USD 280-285/MT CFR Nava Sheva.
Chinese scrap lands at Indian port
Chinese ferrous scrap has landed at Indian ports in last week of May. China is emerging as new source of scrap and is getting popularity due to lower price. According to sources, Chinese scrap is cheaper by at least USD 10-15 compared to any other origin.
“Indian importers have booked small sample lots, which have arrived in last week of May. Around 10,000 – 15,000 MT scrap has landed Indian ports and quality seems to be good. This is largely busheling scrap and average price is around USD 280/MT CFR India” said a scrap trader based in Chennai.
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