HMS I/II scrap import offers origin Europe/UK/Africa/US
to India lie in between $400-405/MT CFR Nhava Sheva as confirmed from Market
participants. There seems no scrap shortage inside the country. Imports are
taking place on regular basis. Demand also remains constant in line with March
closing and arrival of festival season in India. Traders are however facing
payment delays for the sales concluded due to March end. Shredded scrap offers
also lie in the same range of $415-420/MT CFR Nhava Sheva.
In Kandla, HMS I& II import
offers lie in between $380-385/MT CFR Kandla port origin Africa and shredded
import prices are in between $390-395/MT CFR Kandla port from the same origin. No deals concluded yet.
Domestic scrap prices (HMS 1&2) weakens by Rs100/MT to about 22400 (prices
are basic, ED & taxes extra).
In Indian scrap domestic market,
HMS 1&2 prices corrected by Rs 500-1000/MT in Durgapur (Rs 26500-600/MT,
Incl. all) and Mandi Gobindgarh (Rs 28200/MT, Incl. all) regions. No pick in
demand. Only stock clearing activities are going on by sellers due to Holy
holidays thus even low prices are considered.
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