Indian ferrous
scrap import offers remain firm on globally improved demand for April
deliveries. Weakening Rupee and high freight cost for containers have supported
prices to stay high.
According to the
sources, high charges for container for April and May shipments have kept
imported ferrous scrap offer prices into India firm this week.
Buying interest continue
to remain weak coupled with low demand in finished product (which has
restricted Ingot manufacturers to buy scrap). Weak Rupee in currency exchange is
also prompting Indian importers to stay away from bulk orders.
Europe & UK
suppliers are offering shredded material at US$ 485-490/MT CFR Nhava Sheva, unchanged
from last week. HMS 1&2 (80:20) was on offer at US$ 465-475/MT CFR Nhava
Sheva. While, Dubai based material are being heard quoted at US$ 480-485/MT CFR
Nhava Sheva for HMS 1&2 (80:20)
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