In recent conversations with market participants, SteelMint learned that Indian scrap importers remained less working however, buying inquiries improved post Eid holidays this week. Although minor trades have reported in the market at almost stable prices, import activities are likely to increase in coming weeks. Price assessment stood almost stable and few steelmakers remain preferring cheaper and easily available domestic scrap and sponge iron.
Price assessment of UK and USA origin containerized Shredded scrap remain at USD 380-385/MT, CFR and HMS 1&2 assessed at around USD 370-375/MT and Dubai HMS 1 at USD 375-378/MT, CFR Nhava Sheva. Minor trades for West African and European HMS heard to have concluded in the range of USD 345-350/MT, CFR depending on the quality of scrap in containers.
“Importers are not much active and not much buying being reported at the moment in India however Pakistan based importers have turned positive as deals have confirmed at improved prices recently.” shared a trade source.
3 Bulk scrap vessels reported to arrive shortly at Indian ports – As per vessel line up data maintained with SteelMint, 3 bulk scrap vessels are reported to arrive at Indian ports shortly.
| Shipper | Vessel Name | Country | Quantity | Status | Unload Port |
| IMR Resorces | Interlink Ability | USA | 23100 | Expected | Kandla |
| IMR Resources | Interlink Ability | USA | 10000 | Expected | Kandla |
| Monosteel | New Frontier | USA | 32000 | Expected | Kandla |
| VARIOUS | Edward Oldendorff | USA | 22000 | Expected | Chennai |
| VARIOUS | Edward Oldendorff | USA | 9353 | Expected | Chennai |
Provisional data updated till 20 Jun’18
Quantity in MT
Source: SteelMint Stats, Customs
Indian domestic scrap prices tumble on W-o-W – Amid decent availability and falling semi finish steel prices, domestic scrap prices in India observed mix trends in almost all major regions on the weekly comparison. Currently, HMS (80:20) prices in Mumbai assessed at INR 25,800-26,000/MT (Up INR 100 W-o-W), in Chennai INR 25,400-25,600/MT (down INR 400 W-o-W) these are basic prices, GST @ 18% extra.
Ship breaking market witnessed steady sentiments amid few sales being concluded in Alang region. Ship cutting prices remain stable on W-o-W basis and assessed at USD 430/LDT for general dry bulk cargo; at USD 450/LDT for containers and at USD 440/LDT for tankers on CNF India basis respectively. As per reports, two Reefer type vessels sold each of 6,511 LDT at USD 420/LDT and 9,329 LDT at price range of USD 370-375/LDT last week, CNF India.
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