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India: 5th Bulk Scrap Vessel Reported at Chennai Port

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Melting Scrap

BigMint Bureau

838 Reads

15 Jun 2017, 16:51 IST

India: 5th Bulk Scrap Vessel Reported at Chennai Port

According to customs data maintained with SteelMint, a bulk scrap vessel carrying 25,700 MT scrap is about to arrive at Chennai port on 19 Jun'17. The vessel named 'Atalanta' carrying 11,400 MT HMS scrap and 14,300 MT Shredded scrap from USA is about to reach Indian port shortly.

Bulk scrap imports to India remained nil in May'17. Indian importers had booked around 8-10 bulk vessels in the month of May for which delivery was expected to be between June and July.

Prior to this four bulk vessels of quantity 102,410 MT arrived at Indian port in CY17 (till 03 Jun'17).

Indian importers prefer bulk cargoes due high disparity in freight charges, container being more expensive. Bulk offers are assessed at around USD 290/MT CFR India west coast.

Indian imported scrap offers stable; demand remains subdued - Current offers for containerized Shredded scrap are at USD 295/MT CFR India, and for bulk shredded scrap offers are at USD 290/MT, CFR India. HMS 1&2 at USD 275/MT CFR basis from Middle east. HMS 1&2 offers from Europe are at USD 270/MT CFR India.