Ex-US scrap offers of containerized HMS I/II 80:20 to India are reportedly at $295-300/mt CFR Nhava, while recent imported scrap transactions from various other countries of origin, including South and West Africa, are at $275-285/mt CFR Nhava.
Ex-US offers on containerized shredded scrap to India have declined $10/mt within the last few days of the week ended October 27 and are now heard at $325/mt CFR Nhava. The decline was influenced by active deals on containerized shredded scrap from various countries of origin reportedly at $310-315/mt CFR Nhava. The optimism of traders early in the week of transacting containerized shredded scrap deals at $325/mt CFR Nhava were not realized due to concerns of softness in the billet market, slight production cuts at some mills, and a weak domestic finished steel market. A scrap exporter noted that CFR prices may get support from increased freight rates as the global scrap market is generally showing stability and downward resistance.