Containerized imported Shredded scrap offers to India continue to fall this week. Offers have dropped by USD 5-10/MT compared to last week.
Current offers for Shredded (ISRI 211) scrap from US and Europe are assessed at USD 185-190/MT, CFR India for November end deliveries. Offers were hovering in the range of USD 190-195/MT last week.
HMS 80:20 offers from Europe are assessed at USD 175-180/MT, CFR India.
Prices have dropped on account of excess supply in seaborne, owing to cheaper Chinese billet available in global market.
However, offers from Middle East and South Africa remain firm to Indian market. Offers for HMS 80:20 from Middle East are assessed at USD 205-210/MT, CFR India and from South Africa at USD 195-200/MT, CFR India for October deliveries.
Indian bulk scrap imports increase in 2015
Bulk scrap imports to Indian market have increased in 2015. Total 11 bulk vessels have been recorded from Apr-Oct’15, out of which 6 are from US. Total scrap import to India is expected to cross 5 MnT in FY16.
Global Scrap offers as on 13 Oct’15
| Particular/Delivery | Size/Grade | Prices in USD/MT | Change |
| CNF Mumbai, India | HMS(80:20), Europe | 175 | -10 |
| HMS-1, Middle East | 215 | 0 | |
| HMS-1&2, Middle East | 205 | 0 | |
| HMS-1&2, S.Africa | 195 | -5 | |
| Shredded, Europe | 185-190 | -10 | |
| Shredded, US | 190 | -5 | |
| CNF Taiwan | HMS(80:20), US | 145 | -13 |
| CNF Turkey | HMS(80:20), US | 167 | -18 |
| FOB Japan | Busheling Shredded, Japan | 190 | 0 |
| FOB Rotterdam, Europe | HMS(80:20) ,Europe | 155 | -7 |
| FOB US East Coast | Shredded, US East Coast | 170 | -8 |
Source: SteelMint Research
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