India: MMTC's EoI for Supply of Imported Scrap

MMTC, a leading international trading company in India and one of the major global players in minerals trade, invites "Expression of Interest (EOI)" from reputed foreign suppliers with past experience engaged in supply/Export of HMS-1&2, Shredded & Stainless Steel scraps for import of Heavy melting scrap-1&2, Shredded & Stainless Steel scraps at Indian ports.

Categories of Scrap:
HMS -1 & 2 (80:20) Scrap
Shredded Scrap
Stainless Steel Scrap (preferably AISI type - 304 & 430 grade)

Eligibility Criteria:
The foreign supplier should have minimum three years of supplying/export experience in the scrap.

Minimum supply of 1,00,000 MT/year of Scraps.

The supplier shall clearly mention monthly supply capacity of scrap for which the application is being made.

Annual report of the company for past three financial years i.e. from 2015-16, 2016- 17 and 2017-18.

Profit making in atleast two out of last three years.

Validity of empanelment under this EoI shall be for duration of one year from the date of acceptance by MMTC, which may be renewed on basis of performance of the party, at the sole discretion of MMTC. Validity of EoI can also be terminated by MMTC at its sole discretion.

Tender schedule (IST): Due date for submitting the offer is 04 Feb'19 till 15:00 hrs.

For Contact and Other Details CLICK HERE

Key Updates:

Indian ferrous scrap imports likely to reach 5.2 MnT in 2018, up 13% Y-o-Y against 4.57 MnT in 2017.

Bulk scrap imports recorded at 515,121 MT in CY18, up 37% Y-o-Y in 2018 as against 376,600 MT bulk scrap imports recorded during CY17.

Latest Imported Shredded scrap offers in containers stand at around USD 320/MT, CFR Nhava Sheva from the US and Europe.

Average price of HMS 1&2 from UAE increased to USD 351/MT, CFR Nhava Sheva in 2018, up almost 20% Y-o-Y as against USD 292/MT, CFR last year.

Average domestic HMS (80:20) scrap prices stood at INR 25,700/MT, ex-Mumbai, up INR 5,000/MT (USD 70) Y-o-Y, GST @ 18% extra.