As per latest vessel line up data maintained with SteelMint, a bulk vessel named ‘Chestnut’ is expected to arrive at Kandla port on 1st Feb’18.
The upcoming vessel loaded with 28,350 MT Shredded scrap was booked from Sweden and sources reported that the vessel was booked almost two months earlier at the level of about USD 360/MT, CFR. The vessel is anticipated to have 7-8 Indian scrap receivers with the highest share occupied by Mono steel the largest scrap importer from west India.
Presently market participants are eyeing for correction in bulk offers than current prevailing offers. “Bulk cargo for Shredded scrap from USA is being offered at USD 395/MT, CFR Nhava Sheva However, buying interest for the same was at USD 385/MT, CFR Nhava Sheva” – a scrap supplier shared.
India’s total ferrous scrap imports fell 14% during Jan-Oct’17 – India imported total 3.94 MnT ferrous scrap (including containers and bulk) during Jan-Oct’17, which was summed at 4.58 MnT during the first ten months in CY16.Therefore, the country has witnessed 14% Y-o-Y fall in its ferrous scrap imports during Jan-Oct’17.
Cheaper availability of domestic scrap and DRI has kept away Indian mills from importing scrap in large volumes. Also in CY17, global scrap offers have remained on the higher side as compared to last calendar year.
India imported 376,620 MT Bulk scrap in CY17 – As per Bulk vessel data maintained with SteelMint, India imported 376,620 MT in CY17 as against 802,890 MT scrap imported in bulk vessels in CY16. India witnessed fall of 53% Y-o-Y in its ferrous scrap imports in bulk vessels in CY17. Out of total bulk scrap imports in CY17, Kandla port occupied highest 60% share followed by other major ports like Chennai (26%), Mundra and Vizag respectively.
India vessel line-up (Scrap) as updated on 25th Jan’18 –
| Vessel Name | Origin Country | Quantity In MT | Date | Status | Discharge Port |
| Elliot Bay | USA | 26,820 | 02-Jan’17 | Berth | Kandla |
| Glorious Sunshine | USA | 25,960 | 02-Jan’17 | Berth | Chennai |
| Mimitsu | USA | 29,250 | 05 Jan’17 | Berth | Chennai |
| New General | USA | 20,380 | 03-Jun’17 | Berth | Vizag |
| Atalanta | USA | 11,400 | 19-Jun’17 | Berth | Chennai |
| Atalanta | USA | 14,300 | 19-Jun’17 | Berth | Chennai |
| King Island | USA | 26,250 | 30-Jun’17 | Berth | Kandla |
| N Discovery | USA | 33,040 | 07-Jun’17 | Berth | Kandla |
| Daiwan Justice | USA | 32,030 | 03-Jul’17 | Berth | Kandla |
| Mount Hikurangi | USA | 30,570 | 12-Jul’17 | Berth | Kandla |
| Ivs Naruo | UK | 45,020 | 16-Jul’17 | Berth | Kandla |
| Hai Phong 08 | Japan | 15,000 | 20-Jul’17 | Berth | Chennai |
| Supernova | USA | 33,600 | 3-Sept’17 | Berth | Kandla |
| Pelagiani | USA | 33,000 | 02-Oct’17 | Berth | Mundra |
| Chestnut | Sweden | 28,350 | 01-Feb’18 | Expected | Kandla |
Quantity in MT,
Source: SteelMint Stats, Customs.
Induction furnaces and such similar bodies have urged Indian govt. to remove 2.5% import duty on scrap in the upcoming budget.
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