Indian containerized scrap import offers saw an increase of USD 5-10/MT W-o-W. Current offers for shredded scrap increased to USD 305-310/MT CFR Nava Sheva against USD 300-305/MT levels last week. Offers have increased on account of rise in global scrap prices and increased buying interest from Pakistan based buyers.
Offers from the US and Europe were heard as high as the USD 310/MT for shredded and around USD 290-295/MT CFR for HMS, however buying interest remains limited.
Offers from Middle East to India were heard at USD 300-305/MT CFR Nava Sheva for HMS 1 (25 MT load).
“Imported scrap offers have gone up to India as Pakistan buyers turn active. Shredded offers should not be less than USD 310/MT CFR India , in containers and bulk will not be less than USD 300-305/MT CFR” said a scrap trader based in Mumbai”.
Indian buyers are more inclined towards bulk shipments owing to lower prices. Last month about 4-5 bulk vessels were booked by Indian traders. Some more bulk shipments are being negotiated and expected to be concluded soon, he further added.
Indian Scrap Imports in 2016
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