Imported HMS scrap trades to India have improved this week, however trades of Shredded scrap remained slow, SteelMint learnt from market participants. SteelMint’s assessment for shredded 211 from UK/Europe remained stable at around $315/t CFR Nhava Sheva.
Confirmed trades
- India’s major stainless steel producer has booked 4,000 t shredded from UK & Australia in containers at $325/t, CFR Vizag.
- Around 1,000 t of shredded from UK/Europe have booked at $315-316/t CFR Nhava Sheva.
- Deals for HMS 1&2 (80:20) have been concluded at around $300/t CFR Mundra.
“Only traders are booking their slots at the moment. Few HMS scrap trades were concluded in western India. However, imported scrap trades to Chennai (southern India) remained quiet”, highlighted trade participants.
Imported scrap offers for India (7th Aug-14th Aug)
Domestic market
- Domestic scrap prices in India have also hit over 14 months high since mid of the Jun ‘19. SteelMint’s assessment for Jalna (western India) stands at INR 23,800/t DAP, up by INR 1,100/t against last week’s closing.
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