Indian
imported ferrous scrap market remained steady this week so far as no fresh
deals have being closed. Absence of scrap suppliers in European countries due
to New Year holidays have slowed down the trading activities in the
market.
Offers
for HMS 1&2 (80:20) remains unchanged at US$ 425-435/MT CFR Mumbai and
shredded scrap at US$ 450-455/MT CFR Mumbai.
4 cargoes
of mixed material HMS (80:20) were heard being sold at US$ 430/MT CFR Kandla to
be delivered in January by a European supplier.
“We
haven't heard any fresh bookings this week as ferrous scrap market is likely to
remain calm due to New Year holidays. Offer prices will also remain same”, said
an importer based in Kandla.
The Turkish market
also remained quiet this week and no deals have been concluded so far. Offers
for HMS (80:20) and shredded scrap remained same at US$ 450-460/MT &
465-470/MT CFR Turkey respectively.
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