Imported scrap offers to India continued to increase this week, however, trades remained limited with dull buying interest at high offers. SteelMint assessment for containerized Shredded from the UK/ Europe to India move up to USD 310/MT, CFR Nhava Sheva, up by around USD 5-10/MT against USD 300-304/MT levels in last week’s report.
HMS scrap offers too moved up by around USD 3-4/MT this week, with very less trades. Offers for HMS 1&2 (80:20) from the UK stood in the range of USD 275-280/MT CFR.
UAE origin HMS 1 & 2 super (ci gi 4-5%) from Dubai was reported at around USD 278-279/MT CFR Nhava Sheva, while HMS 1 (no ci gi) stood at USD 285/MT CFR levels.
West African HMS 1&2 (80:20) was sold at around USD 278/MT CFR Goa for 21 MT loading, while offers for 23 MT average loading stand at USD 280/MT CFR Goa. Offers for South African origin HMS rise to USD 290/MT CFR.
Most of the steelmakers have already booked the cargoes due to the winter holidays. If sources are to be believed, today is the last working day for most European and US yards and they would reopen in the 1st week of Jan’20.
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