International
ferrous scrap market remains quiet ahead of the New Year holidays. Scrap
suppliers expect sales to resume in January 2012.
According
to market participants, no deep-sea cargoes were sold to Turkish mills last
week. Offers remained unchanged at US$ 450-460/MT CFR Turkey for HMS 1&2
(80:20) and at US$ 465-470/MT for shredded scrap.
Offers to
India also remained unchanged from the previous week. HMS (80:20) was quoted at
US$ 435-445/MT CFR Mumbai and shredded material at US$ 455-465/MT CFR Mumbai.
Offers from Dubai also stayed firm at US$ 440-445/MT CFR Kandla for
HMS (80:20).
“Indian imported ferrous scrap market is likely to remain calm due to
the absence of suppliers especially from Europe. They are not placing any
offers and eyeing on January for fresh deals. So, prices are likely to remain
same this week”, said an importer based in Kandla.
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