SteelMint’s assessment for containerized Shredded from the UK, Europe and USA to India stands at USD 270-272/MT, CFR Nhava Sheva, increasing by USD 8-10/MT against last week's report. Few offers were heard at USD 265-268/ MT CFR levels. Although market participants reported gap between bids & offers, resulting in lower trade volumes.
HMS scrap prices remained unchanged against last week with Dubai origin HMS 1 being offered at around USD 265/MT CFR India while European origin HMS 1&2 (80:20) offers has now increased to USD 250/MT CFR level, against last reported USD 245/MT CFR level.
However, offers from West & South Africa are not reported this week as all scrap sold out earlier this month, shared by a source. Trade activities have also taken a pause due to the Diwali festival. After the festival steelmakers could start bookings actively for November-December shipments.