Imported scrap demand in Indian market continues to remain weak owing to low billet prices. Smelters prefer domestic scrap and sponge iron (DRI) over imported scrap.
Indian Offers
Offers for HMS 1&2 (23 tonnes load) from Middle East are assessed at USD 215/MT CFR Nava Sheva and HMS 1 (25 tonnes load) from Middle East at USD 220/MT CFR Nava Sheva. HMS 1&2 from Europe assessed at USD 210-215/MT CFR Nava Sheva. Offers for HMS 1&2 from South Africa are assessed at USD 220-225/MT CFR Nava Sheva. No major trades were reported at these levels.
Shredded scrap offers from Europe and US were assessed in the range of USD 230-235/MT and from Japan at USD 250-255/MT CFR Nava Sheva (India).
Indian importers mention that containerized scrap trade has reduced significantly in last few months. However, some big importers continue to bring bulk scrap cargoes. Two bulk vessels are reported this month, one belongs to Kamachi group and second to MTC group.
Pakistan and Bangladesh may become active after Ramadan
Scrap demand in Pakistan and Bangladesh were reported low owing to ongoing Ramadan festival. Participants are expecting demand to pick up post festival. Current offers from Shredded are assessed at USD 240-245/MT CFR Chittagong (Bangladesh) and Port Qasim (Pakistan). HMS 1&2 offers are assessed at USD 220-225/MT CFR Chittagong (Bangladesh) and Port Qasim (Pakistan).
Trade activities remain low in Turkey
Trade activities also remain low in Turkey, world’s largest importer of scrap. Current offers from HMS 1&2 are assessed at USD 215-220/MT CFR Turkey. Buyers are waiting for Chinese market to take direction.
Global Imported ferrous scrap in week 25
|
Particular |
Size |
Prices |
1W |
1M |
Remark |
| CNF India |
HMS(80:20), Europe |
215-220 |
+10 | -2.5 |
Trade activities remain low. Price difference between buyers and sellers remain high. Smelters prefer domestic scrap and sponge iron. Prices unlikely to go up in near future. |
|
HMS-1, Middle East |
220-225 |
+5 | 0 | ||
|
HMS-1&2, S.Africa |
220-225 |
+12.5 | 0 | ||
|
Shredded, Europe |
230-235 |
+5 | -15 | ||
|
Shredded, US |
225-230 |
+5 | -22.5 | ||
| CNF Taiwan |
HMS(80:20), US |
200-205 |
+7.5 | +2.5 |
Trade activities low on higher Prices rise |
| CNF Turkey |
HMS(80:20), US |
215-220 |
-15 | -60 |
Turkey buyers wait for Chinese market to take direction |
| CNF Bangladesh |
Shredded, Australia/Europe |
240-245 |
NA | NA |
Buying likely to resume post Ramadan festival. Bangladesh will be an emerging market for scrap traders |
|
HMS 80:20, Australia/Europe |
220-225 |
NA | NA | ||
| CNF Pakistan |
Shredded, US/Europe |
240-245 |
NA | NA | Pakistan mills to resume buying as post Ramadan |
Offers in USD/MT
Source: SteelMint Research
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