On August 31, SteelOrbis reported that ex-UK and ex-EU containerized shredded scrap import prices to India were trending up at $355-365/mt CFR. Containerized HMS I/II 80:20 imported scrap offers from the same regions were reportedly at $330-340/mt CFR.
Sources inform SteelOrbis that offer prices continued trending up through the month of September to approximately $360-365/mt CFR for containerized shredded scrap and $345-350/mt CFR for containerized HMS I/II 80:20 in September 28.
Scrap import prices declined through the first week in October from the late September peak and are now reportedly at $355-360/mt CFR for containerized shredded scrap and $335-340/mt CFR for containerized HMS I/II 80:20. Shredded scrap offer prices declined $5/mt compared to late September while HMS I/II 80:20 prices declined $10/mt compared to the same period. The decline in offers is attributed to the further devaluation of the rupee (INR) which is keeping many scrap importers away from the import market in favor of domestic supplies.