Indian domestic scrap trades improved over rising Semis price and higher imported scrap quote. Its competitive by USD 30-35/MT with limited availability
Domestic scrap offers have registered price rise of INR 1,500-2,000/MT W-o-W inline to Pan India semis (MS billet) price rise by INR 1,500-3,000/MT.
SteelMint learned in West India domestic sponge iron and scrap melting is competitive by INR 2,000-2.500/MT (USD 30-35/MT) compare to imported scrap melting. “ As per present domestic price level imported scrap buying interest HMS 80:20 are at USD 220-230/MT” mentioned a furnace operator in Mumbai (MH).
Another manufacturer quoted “domestic scrap and sponge availability has improved but bulk booking of scrap in domestic is still a challenge”. Similar comments receive by North India manufacturer who are having fear on volatile prices and keep their buying hand to mouth.
Trader in Mumbai calculated landed cost of Imported HMS 80:20 scrap in the plant at around INR 20,000/MT (as per present offer USD 255-260/MT, inclusive duty, port expense and transport)/. While same material is available in domestic market at INR 17,500-18,000/MT (basic price). Offers in other major scrap consuming markets are – at INR 15,000/MT ex-Chennai (South India) & INR 20,500/MT Ex-Mandi Gobindgarh (North India), basic prices.
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