US origin shredded Scrap import offers are in the range of
$425-430/MT CFR Nava Sheva at Mumbai. A Mumbai based trader told that deals are
concluded around $420-425/MT CFR Nava Sheva three-five days back. There seems no desertion in scrap import
offers as per his view.
Scrap imports offers for HMS I & II (80:20) from Gulf,
Middle East regions stands at around $405/MT. Scrap market gives the impression of further hike in prices
as offers are rising across the globe.
Scrap offers to Middle East (Turkey) region also gains back support. Even China’s iron ore prices have started strengthening
again.
However, scrap import
prices of HMS I & II (80:20) grade in Southern India are in the range of $ 410-420
from Gulf region and $400/MT from US
region as per told by Chennai based trader. Probably lower quantity of scrap
imports are expected in Southern India as buyers are not ready to accept higher
quotations.
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