Imported
Ferrous scrap market remained quiet as most of the importers still preferred to
be on the sidelines.
Offers
for containerized HMS 1 & 2 (80:20) remain at US$ 430-435/MT and shredded
material remains at US$ 445-450/MT CFR Nhava Sheva Mumbai. Whereas, a cargo of
mixed material of HMS 1 & 2 was quoted at US$ 443/MT CFR Chennai from a
European supplier but he failed to find any buyer for the material.
“Importers
are reluctant to book fresh orders due to this appreciating dollar and we do
not expect it to come down in the days to come. So one can predict Indian scrap
market to remain calm in the near future”, said an exporter based in Dubai.
Offers for HMS 1&2 (80:20 mix) from Europe
and the USA were seen at $420-430/MT CFR this week for buyers at South East
Asia i.e. up from $400-420/MT CFR seen last week, sources in the region said. “It's the winter season, and suppliers are raising prices in anticipation of
scarce supply,” said a trader in Singapore.
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