Imported scrap offers remain unchanged to Indian market amid low trade activities. Market participants mention that buying interest is extremely low from mild steel manufacturers, although alloy steel manufacturers are making purchases in small lots.
Current offers for Shredded scrap from US and Europe are assessed at USD 220-222/MT CFR Nhava Sheva. Some trades have also been reported at USD 215-220/MT, CFR Nhava Sheva.
HMS 1&2 offers
Offers for HMS 1&2 from Middle East are assessed at around USD 205-210, Europe at USD 200-205/MT and South Africa at USD 210-215/MT, CFR Nhava Sheva.
Sponge iron preferred over scrap
Sources mention that increased supply of sponge iron (DRI) from JSW’s Dolvi plant has led to fall in demand for imported scrap. Current offers for 88-90 FeM DRI from JSW is assessed at INR 14,300/MT (ex-Dolvi plant), which is equivalent to INR 15,500/MT (USD 230; delivered to Mumbai). Whereas, scrap offers are around INR 16,500/MT (USD 246, delivered Mumbai).
Global imported ferrous scrap offers in week 30
| Particular | Size | Prices | W-o-W | M-o-M | Remark |
| CNF India | HMS(80:20), Europe | 205-207 | +2 | -0.5 | Trade activities remain low. High disparity between sellers offers and buyers expectation. Smelters prefer domestic scrap and sponge iron. Trade activity will remain low. |
| HMS-1, Middle East | 210-215 | 0 | -2.5 | ||
| HMS-1&2, S.Africa | 205-210 | -10 | -7.5 | ||
| Shredded, Europe | 220-222 | 0 | -7.5 | ||
| Shredded, US | 220-222 | 0 | -2.5 | ||
| CNF Taiwan | HMS(80:20), US | 195-200 | -5 | -5 | Trade activities low, prices fall. |
| CNF Turkey | HMS(80:20), US | 220-222 | 0 | -2.5 | Buying sentiments muted over ongoing political tension. |
| CNF Bangladesh | Shredded, Australia/Europe | 225-230 | -5 | – | Buying activities remain low due to monsoon season. |
| HMS 80:20, Australia/Europe | 210-215 | 0 | – | ||
| CNF Pakistan | Shredded, US/Europe | 225-230 | 0 | – | Limited trade activities due to seasonal slowdown. |
Offers in USD/MT
Source: SteelMint Research
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