Offers
to Turkish mills corrected by US$ 5/MT from last week. Exporters expect fresh
buying to be closed in the coming days. Some cargoes of mixed material of HMS (80:20)
were sold at US$ 416/MT CFR Turkey this week after European countries have
corrected their offers.
U.S.
ferrous scrap exporters are expecting price to move up this week as Turkish
buyers return to the market from a week-long religious holiday and some sales
to Far East Asian markets strengthened by up to $10/MT in the past week.
International
scrap market was dull for East coast region last week with no bulk sales to
Turkey and thin volumes of containerized scrap shipments to India. However, West
Coast exporters had a relatively busier week, with four bulk shipments as well
as container shipments mainly to South Korea and Taiwan.
According to a major exporter “Southeast and Far East Asian consumers kept trading
alive, pushing U.S. export numbers higher from the previous week. A cargo of
HMS (80:20) was being sold at US$ 430/MT CFR South East region.”
Imported
scrap market in India remains dull due to poor buying interests from the importers. Increasing rupee to Dollar continue to hurt the scrap importers. They
are still away from the market. No bulk cargoes were being heard sold this
week. Offer for HMS (80:20) remained at same price at US$ 435-440/MT CFR Mumbai
from Europe Origin. However, offers from Dubai remained at 440-445/MT CFR Nhava
Sheva Mumbai.
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