Imported
ferrous scrap prices in India remain unchanged with no fresh offers being
noticed. Offers for HMS 1&2 (80:20) and shredded scrap remain at US$ 435-445/MT
and US$ 455-465/MT CFR Mumbai respectively.
An
importer based in Chennai received an offer of US$ 440/MT from an African
supplier which is higher by US$ 10-20/MT from December. But no deals have been
closed so far at such price.
“Offers
for ferrous scrap are likely to remain firm due to competition in global market
and limited supply from the export countries. European suppliers are still away
from the market. They will return to the market with high offers in line with
the present market trend”, said an importer based in Chennai.
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