Imported Scrap offers to India have surged by USD 15-25/MT (INR 1,000-1,700/MT). Following the trend domestic scrap offers also gain by upto INR 2,000/MT (USD 30/MT) in a month time from low base and presently its cheaper than imported offers.
Domestic Scrap prices in Mumbai, Jalna, Chennai & Ludhiana, India’s largest scrap consumer markets have surged by INR 200-2,000/MT during a month.
HMS (80:20) Scrap offers in Mumbai and Chennai are similar at around INR 15,700-16,000/MT ex-works. While in Jalna is at INR 16,800-17,000/MT. Fresh melting scrap is available in Ludhiana at INR 22,000/MT ex-works.
HMS scrap offers to India from Dubai is assessed at USD 220-225/MT (INR 15,000/MT) up by USD 15-20/MT against previous month offers (25 MT load container.). Shredded quoting at USD 230-235/MT from Europe.
“Domestic scrap availability has increase in Mar from local industry. We have postponed March buying to April month as domestic scrap is cheaper.” said director, Furnace and rolling mill located in Mumbai. Similar view received from Ludhiana and Chennai market.
Domestic Scrap Offers as on 17 Mar’16
| Particular/Delivery | Size/Grade | Prices | M-o-M |
| Ex-Ludhiana | End Cutting | 19,700 | + 200 |
| Ex-Mandi Gobindgarh | End Cutting | 21,700 | – 200 |
| Ex-Ahmedabad | HMS(80:20) | 16,800 | + 800 |
| Ex-Alang | HMS(80:20) | 16,300 | + 800 |
| Ex-Jalna | HMS(80:20) | 16,900 | + 900 |
| Ex-Kandla | HMS(80:20) | 16,100 | + 800 |
| Ex-Mumbai | HMS(80:20) | 16,000 | + 200 |
| Ex-Chennai | HMS(80:20) | 15,800 | + 2,000 |
| Ex-Hyderabad | HMS(80:20) | 16,400 | + 700 |
Ex-works basic prices in INR/MT
Source: SteelMint Research
Global Scrap Offers as on 17 Mar’16 (Week 12)
| Particular/Delivery | Size/Grade | Prices | M-o-M |
| CNF India | HMS(80:20), Europe | $ 210 | + 18 |
| HMS-1, Middle East | $ 225 | + 15 | |
| HMS-1&2, Middle East | $ 217 | + 17 | |
| HMS-1&2, S.Africa | $ 220 | + 25 | |
| Shredded, Europe | $ 230 | + 22 | |
| Shredded, US | $ 230 | + 22 | |
| CNF Taiwan | HMS(80:20), US | $ 180 | + 30 |
| CNF Turkey | HMS(80:20), US | $ 212 | + 37 |
| FOB Japan | Busheling Shredded | $ 195 | + 20 |
| FOB Europe | HMS(80:20) | $ 185 | + 35 |
| FOB US East Coast | Shredded | $ 200 | + 32 |
Prices in USD/MT
Source: SteelMint Research
Leave a Reply