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Platts Asia Indian Ferrous Scrap Weekly Rationale

Friday, 13 August 2021

S&P Global Platts assessed Indian imports of shredded scrap at $524/mt CFR Nhava Sheva Aug. 13, up $4/mt on week.

One trading source said $520-$525/mt CFR was workable for containerized shredded scrap, while a second trader said $525/mt CFR Nhava Sheva was possible.

A third trader said $520/mt CFR was workable, while a UK recycler said $520-$525/mt CFR was workable for India. Offers were heard at $530-$535/mt CFR Nhava Sheva Aug. 13, up sharply from $520/mt CFR Nhava Sheva heard earlier in the week.

The neighboring Pakistan market, where prices are generally higher than into Nhava Sheva, saw workable levels cited at $530-$538/mt CFR Port Qasim Aug. 13, as demand recovered toward the end of the week.

No data was excluded from the assessment.

The above rationale applies to Platts assessment of Shredded Indian scrap imports, with the associated market data code AAXRQ04.

-- Staff

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