Indian state-run trading firm MMTC Limited is seeking expression of interest from foreign suppliers of steel scrap to be enlisted to make supplies at various Indian ports, company sources said on Tuesday, January 15.
The sources said that the foreign suppliers need to have the capacity to deliver HMS I/II (80:20), shredded scrap (preferably US ISRI codes 210 and 211), and stainless steel scrap (preferably AISI grades 304 and 430) to Indian ports on a regular basis.
International scrap suppliers willing to be enlisted will need to specify their monthly supply capacity in response to the notice inviting the expression of interest, the sources said.
The scrap import plans of MMTC envisage the trading firm submitting quotes to their domestic scrap customers based on rates quoted by foreign suppliers plus a trading margin and the contract between MMTC and the domestic scrap customer would form the basis of the contract between MMTC and the foreign scrap supplier, the sources explained.