The imported containerized scrap to India remained firm this week. However, trade activities remained limited. Other Asian markets like Pakistan, Bangladesh, Indonesia and Middle East, stay on the sidelines due to Eid festival.
SteelMint’s price assessment for HMS 1&2 remain unchanged at USD 220-225/MT CFR and Shredded at USD 235-240/MT CFR India. Rising sponge iron and billet prices in domestic market indicate that Indian mills may resume buying. Domestic prices have increased by INR 1,000-1,500/MT (USD 14-22) in the last few days.
Trade-wise:
1. 2,000 MT of Shredded scrap sold to Bangladesh at USD 247-249/MT CFR Chittagong
2. Shredded scrap prices from Europe/UK at USD 235-240/MT CFR Nava Sheva,India
3. HMS-1 from Middle East at USD 220/MT CFR Nava Sheva, India.
4. Indian 30,000 MT Pig Iron export tender fetched highest bid at USD 242-245/MT FOB India East Coast
5. Indian Sponge iron prices CDRI at INR 14,200/MT (USD 212) ex- Raipur, India
6. JSW sold 10,000 MT billets (165*165 mm) at USD 335/MT FOB Chennai – Sources
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