According to customs data maintained with SteelMint, two more bulk vessels are to arrive at Indian ports shortly. These vessels would be India’s 6th & 7th bulk scrap import vessels for CY17. Prior to this five bulk vessels of quantity 128,110 MT arrived at Indian port in CY17 (till 21 Jun’17).
A bulk scrap vessel named ‘N Discovery’ carrying 33,000 MT scrap from USA is about to arrive at Kandla port on 1st week of Jul’17.
Another bulk scrap vessel carrying 32,030 MT Shredded scrap from USA is expected to reach Kandla port on 01 Jul’17 via vessel named ‘Daiwan Justice’.
Bulk scrap imports to India remained nil in May’17. Indian importers had booked around 8-10 bulk vessels in the month of May for which delivery was expected to be between June and July.
Indian importers prefer bulk cargoes due high disparity in freight charges, container being more expensive.
Currently Bulk Shredded scrap offers are assessed at around USD 295-300/MT CFR India.
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