UTC+8 ( BJT)

India: Imported scrap prices up on global cues

ABSTRACT

Imported scrap offers to India continue to rise and market sentiments are currently bullish due to good demand and rising prices in Turkey. Sponge iron prices have risen on the back of steep coal prices , but steelmakers remained active in restocking scrap from overseas market, sources told SteelMint.
Recent offers Shredded from UK/EU is being offered at $545-550/t CFR Nhava Sheva levels, moving up considerably by $10-20/t w-o-w. However, the market is not interested in booking any container at these levels. Dubai-origin HMS 1&2 (80:20) is now available at $490-500/t levels.Some deals were concluded at these levels, it is heard.

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