Turkish
mills have booked more deep sea cargoes last week with the higher offers. Details
of three cargoes sold at the end of last week were heard on the market on Monday.
HMS mix grades of 80:20 & 70:30 heavy melting scrap was sold at US$ 440/MT
& US$ 427/MT CFR respectively.
Another
cargo of HMS 1&2 (80:20) reportedly was sold to Turkey at US$ 440/MT at the
end of the last week (US origin).
US export prices up: However,
U.S. ferrous scrap export prices jumped
by more than US$ 10/MT on the East Coast last week despite a drop in shipping
volumes.
It
is reported that a bulk cargo of a HMS 1&2 (90:10) and shredded scrap sold
at an average price of US$ 443/MT CFR. Another cargo for HMS 1&2 (80:20)
& Shredded scrap sold at US$ 445/MT & 450/MT CFR respectively.
Offers to India firm at 460-465/MT:
Whereas, ferrous scrap offers to Indian importers remain unchanged from the
last week. HMS (80:20) was sold at US$ 460/MT CFR Nhava Sheva on Monday this
week.
“Suppliers have raised prices for ferrous scrap
imported into India, with the recent sales to the country and increased demand
in Turkey”, an importer said in Mumbai
Indian
buyers have booked a large number of containerized shipments in the past few
days as they look to restock their supplies. Prices from Europe and the USA
rose in line with globally improved demand. Demand from India has slowed this
week, however, after US and European sellers increased their offer prices to
take advantage of recent buying. Shredded material is being offered at US$
480-485/MT CFR
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