Bulk imports of ferrous scrap continues to make way to Indian ports. Two new vessels were recorded at Mundra and Chennai ports in a week’s time.
MV Marina Princess, which berthed at Mundra port on 29 Sept’15, reported to be carrying 28,700 MT of HMS, Bonus and Shredded scrap from South Africa. The vessel was said to be imported by Adani and further purchased by Mono Steel.
Another vessel, Nord Houston, which berthed at Chennai port on 3 Oct’15, reported to be carrying 10,500 MT Shredded from US and is imported by BMM Ispat.
India is conventionally a containerized scrap market, however declining scrap prices in global market and lower freight rates have made bulk imports lucrative.
Bulk vessel to arrive
With sharp fall in scrap prices, Indian manufacturers are not missing the opportunity to book bulk vessel of Shredded scrap at reasonable rate. Recently, two bulk deals for US- shredded were concluded at USD 225-227/MT and USD 210/MT, CFR each at Chennai/Tuiticorin port and Kandla port respectively. According to sources, vessel are expected to arrive by late October and other by November.
Total bulk imports during Apr-Oct’15
|
Berthing |
Discharge Port | Load Country |
Quantity in MT |
| Apr’15 | Mundra | Australia | 40,300 |
| Apr’15 | Kandla | USA | 41,000 |
| Apr’15 | Chennai | USA | 41,450 |
| May’15 | Kandla | Australia | 31,000 |
| May’15 | Mundra | Australia | 25,000 |
| May’15 | Chennai | USA | 33,000 |
| Jun’15 | Vizag | Australia | 27,000 |
| Jul’15 | Vizag | USA | 35,000 |
| Aug’15 | Kandla | USA | 23,000 |
| Sep’15 | Mundra | S.Africa | 28,000 |
| Oct’15 | Chennai | USA | 10,500 |
| Oct’15* | Chennai | USA | 30,000 |
| Oct-Nov’15* | Kandla | USA | 40,000 |
*Upcoming vessel
Source: SteelMint Research
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