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Platts Asia Indian Shredded Scrap Weekly Rationale

Friday, 01 October 2021

S&P Global Platts assessed Indian imports of shredded scrap at $515/mt CFR Nhava Sheva Oct. 1, up $4/mt on week.

A trader reported a tradable value at $515-$520/mt CFR India. He added that bids from buyers in India were pegged at $515/mt CFR. A trading source said that buyers were looking to pay $500-$505/mt CFR.

A UK-based merchant put offers for India at $515/mt CFR. He added that workable levels were lower. A buy-side source put offers for UK-origin containerized shred scrap at $520/mt CFR Nhava Sheva. He estimated that $515/mt CFR was a workable price level. Another trader also put a tradable value at $515/mt CFR, adding that bids from Indian buyers were pegged at $510/mt CFR.

A trading source said bids were at $515/mt CFR while offers were at $520/mt CFR. He estimated that $515/mt CFR was tradable for 2,000-3,000 mt of UK/EU origin shredded scrap. One trader source put a tradable value at minimum $525/mt CFR Nhava Sheva due to high freight cost.

No data was excluded from the assessment.

-- Staff

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