The imported scrap offers from Dubai consistently stable at around 330$/t HMS 1&2 (80:20) CFR Mumbai in containers. The falling rupees against Dollar is the major concern and deals are not take place in large quantity. Indian buyers have given preference to buy domestic scrap as compared by imported scrap.
Currently offers from Poland are at around 340 – 345$/t HMS 1&2 CFR Mumbai and offers for shredded scrap from Belgium are in the range of 360-370$/t CFR Mumbai. According to industry sources, the offer comes from West Africa stand at nearly 330$/t HMS 1&2 (90:10) CFR Nhava sheva port (Mumbai).Similarly offers from UK origin 360$/t HMS 1&2 (80:20) CFR Nhava sheva and HMS 1&2 (80:20) around 365$/t CFR Mormugao.
The total quantity of imported scrap is down by 25-30 % as compared to previous month (May) and over 40 – 45 % down by January'13. Major factor behind is that rupees continuously hits the record Rs 60+/USD and 11.50% weak from April'13.
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