Indian steel market witnesses mixed sentiments. On one hand, domestic steel prices rallied and on the other, Indian scrap importers continue to remain conservative.
Imported scrap offers were found limited in Indian market owing to Christmas holidays worldwide.
Offers for European HMS 80:20 remained in the same levels of USD 190-195/MT and shredded (ISRI 211) at USD 205-210/MT, CFR India. Buyers interest seen at USD 200-205/MT levels for shredded.
While offers from Japan for busheling shredded were heard at USD 215/MT CFR India. As per sources, a recent deal of 1,000 MT of busheling shredded was closed at USD 215/MT, CFR Nhava Sheva for February loading.
Offers for 25 tonnes loading HMS from South Africa are at USD 200/MT and Middle East at USD 205-210/MT CFR India.
Vessel at anchorage
A bulk vessel named MV Mount Hope from USA carrying 27,200 MT shredded scrap is anchoraged at Chennai port. As per sources the vessel was sold to MTC at USD 185/MT, CFR India, a month back.
Global Ferrous Scrap Offers as on 30 Dec’15
| Particular/Delivery | Size/Grade | Prices in USD/MT | W-o-W Change |
| CNF India | HMS(80:20), Europe | 190-195 | 0 |
| HMS(80:20), Europe | 190-195 | 0 | |
| HMS-1, Middle East | 210-212 | 0 | |
| HMS-1&2, Middle East | 195-200 | 0 | |
| HMS-1&2, S.Africa | 205 | 0 | |
| Shredded, Europe | 205 | 0 | |
| Shredded, US | 205 | 0 | |
| CNF Taiwan | HMS(80:20), US | 150 | 0 |
| CNF Turkey | HMS(80:20), US | 185 | -5 |
| FOB Japan | Busheling Shredded | 178 | 0 |
| FOB Europe | HMS(80:20) | 157 | -5 |
| FOB US East Coast | Shredded | 175 | 0 |
Source: SteelMint Research
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