Seaborne scrap price continue to rise in global scenario by USD 10-15/MT W-o-W. India’s passive buying continues.
Turkey the largest buyer of imported scrap has increased its scrap buying by USD 10/MT in the last one week. Current trade log prices for HMS 80:20 are at USD 275-277/MT CFR Turkey, Europe origin. No trade is heard for US origin, present price offer are at USD 282-284/MT.
India: Middle East heaving melting scrap offer also increase by USD 5-7/MT over improved buying from Pakistan. Present HMS heavy melting 25MT loading offers are at USD 245-250/MT CFR to Nhava Sheva Port. Pakistan booked same grade at USD 250-255/MT CFR.
“India domestic steel price are not par to global price due to demonetization. Indian buying may resume post Jan’17” stated an Indenter located in Kolkata. It should be noted that 4 bulk scrap vessels have reached India during 2nd week of Dec’16. As per sources 4 more vessels are expected to reach by latest in the 1st week of Jan’17.
“India will continue to get the delivery of earlier booked cargo till mid Jan’17. Demand and prices may improve from Feb’17” said scrap importer located in Mumbai. He added that ready stock material are also sold out (which were available last week) HMS 80:20 at USD 210-225/MT.
Global Imported Ferrous Scrap Offers in Week 51:
| Particular | Size | Prices | 1W | 1M |
| CNF India | HMS(80:20), Europe | 250 | 245 | 260 |
| HMS-1, Middle East | 245 | 240 | 258 | |
| HMS-1&2, S.Africa | 245 | 235 | 255 | |
| Shredded, Europe | 270 | 270 | 278 | |
| Shredded, US | 275 | 275 | 278 | |
| CNF Taiwan | HMS(80:20), US | 250 | 235 | 250 |
| CNF Turkey | HMS(80:20), US | 281 | 271 | 275 |
| CNF Bangladesh | Shredded, Australia/Europe | 285 | 278 | 290 |
| HMS 80:20, Australia/Europe | 270 | 260 | 270 | |
| CNF Pakistan | Shredded, US/Europe | 275 | 270 | 280 |
Prices in USD/MT
Source: SteelMint Research
Leave a Reply