On April 6, SteelOrbis reported US East coast ex-US bulk shredded cargo deals at $300-303/mt CFR Nhava while ex-US containerized shredded was sold at $310-312/mt CFR Nhava. Offers for containerized shredded scrap at the time were heard at $315-320/mt CFR Nhava.
This week, an ex-US HMS I/II 80:20 scrap containerized cargo was heard traded at $295-300/mt CFR Nhava. According to sources, this price reflects an increase of $10-15/mt on containerized HMS I/II 80:20 compared to prices in early April which were at approximately $280-290/mt CFR Nhava.
A deal for containerized shredded scrap was heard traded at $310-312/mt CFR Nhava. Compared to the week ended April 6, containerized shredded deal prices remain stable and offers continue to be heard at $315-320/mt CFR Nhava
While scrap prices face downward pressure in most markets, Indian scrap import prices have remained stable or increased in the last week. A source noted, “Import scrap prices have remained stable or risen in India as a result of higher domestic finished steel demand, stronger currency, and temporary high coking coal prices.”