Offer for Ferrous scrap to India remains firm on Thursday.
Importers kept themselves away from the market due to recent hikes in prices.
Offers for HMS 1&2 (80:20) and shredded scrap remain at US$ 435-445/MT and
US$ 455-465/MT CFR Mumbai respectively.
“Currently, shipments are coming with high prices with an
average price of US$ 440/MT CFR Mumbai due to weakening Rupee. And, it is
likely to remain same further in the coming weeks as competition in global
market has helped exporters to raise their offers”, said an importer based in
Mumbai.
A cargo of around 350-400 tones of HMS (80:20) was delivered
this week with an average prices of US$ 438/MT CFR Kandla from Europe origin.
Further, offers to
Turkey also inched up slightly. A deep sea cargo of around 40,000 MT of HMS
(80:20) was sold at US$ 465/MT CFR Turkey. Shredded scrap was offered at
470-475/MT CFR Turkey.
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