Six bulk vessels recorded at Indian ports during first quarter of FY16.
Bulk ferrous scrap shipments to India have increased this financial year. Total six bulk vessels of scrap have been recorded during April ,May and June 2015, contributing around 0.2 MnT of scrap.
Out of the six vessels, two vessels each have been unloaded at Chennai,Kandla and Mundra ports in the month of April & May’15. Another bulk vessel is expected to arrive at Vizag Port in the month of June. Companies namely, MTC, Suryadev Alloys and Hariyana Group were major buyers of these bulk vessels to India.
Vessel Details
| Berthing | Discharge Port | Load Country | Vessel Name | Quantity in MT |
| 5 Apr’15 | Mundra | Australia | Ikan Jenahar | 40,300 |
| 11 Apr’15 | Kandla | USA | Achilleus | 41,000 |
| 14 Apr’15 | Chennai | USA | Bunun Brave | 41,450 |
| 18 May’15 | Kandla | Australia | Orient Allience | 31,000 |
| 21 May’15 | Mundra | Australia | Zeinth Explorer | 25,000 |
| 22 May’15 | Chennai | USA | New General | 33,000 |
| 1st week of Jun’15 | Vizag | Australia | N.A | N.A |
Source: SteelMint Research
US and Australia are turning out to be the most preferred sources for bulk scrap purchases for Indian importers in past few months. Market participants mention that importers booked bulk shipments in the month of February and March from US and Australia when scrap (shredded ISRI 211) prices were trading at USD 280-290/MT CIF India levels.
Also depreciating Australian Dollar against US Dollar is a prime reason for Australian suppliers to offer the material at a competitive price. It may be noted that Australian Dollar has depreciated over 17% in last 10 months owing to fall in iron ore prices.
Current offers for shredded scrap are assessed at USD 300-305/MT CIF India despite low buying interest.
Ferrous Scrap Imports to India
| Exporting Countries to India | Apr’15 | Mar’15 |
| United States | 95,850 | 45,100 |
| United Arab Emirates | 84,900 | 73,300 |
| United Kingdom | 78,500 | 62,200 |
| South Africa | 63,000 | 48,000 |
| Singapore | 23,160 | 18,800 |
| Australia | 19,850 | 13,800 |
Quantity in MT
Source: SteelMint Research
Leave a Reply