Indian Bulk Scrap Imports Jump in November - Port Data
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India world's third-largest scrap importer after Turkey and South Korea has witnessed sharp rise in bulk scrap imports in Nov'18. As per vessel line up data, India imported total 126,440 MT bulk ferrous scrap in Nov'18 as against nil volumes in Oct'18. Three bulk vessels arrived to berth in Nov'18 which had booked during early September.
According to sources, 2 bulk vessels comprising mix grade scrap were booked from UK origin by major west coast based scrap importers based in Gujarat. While another French origin mixed scrap cargo was booked by a leading trading company. These vessels heard sold majorly in the price range of USD 360-370/MT, CFR.
Notably, the country had observed no vessel arrived at berth for three successive months since August. Over seasonal slowdown, volatility in currency and dull finish steel demand containerized scrap was preferred as buyers remained away from buying bulk imported scrap cargoes then.
During Apr-Nov'18 in FY19, India imported 486,771 MT bulk ferrous scrap, up 65% Y-o-Y as against 294,590 MT during the same period in FY18. USA remained the largest supplier occupying highest 54% share followed by UK, Australia and Netherland occupying 20%, 11% and 8% share. Gujarat based Kandla port remained the top port of bulk scrap unloading activities followed by Chennai in southern India in FY19.
Imported and domestic scrap prices down in Oct'18 - The average price of HMS 1&2 from UAE increased sharply to USD 345/MT, CFR in Sept'18, up USD 15/MT M-o-M. Which fell down to USD 338/MT, CFR in Oct'18. While average domestic HMS (80:20) scrap prices stood at INR 27,167/MT, ex-Mumbai, up INR 1807/MT (USD 25) M-o-M in Sept'18. Which fell down at INR 25,777/MT, ex-Mumbai in Oct'18, GST @ 18% Extra.
India bulk ferrous scrap vessel line up FY19 (Apr'18-Nov'18) -
| Vessel Name | Quantity (MT) | Origin | Date | Status | Unload Port |
| Binnur C | 29,100 | USA | 17-Apr'18 | Berth | Kandla |
| Pan Amber | 32,000 | USA | 02-May'18 | Berth | Kandla |
| Spar Canis | 38,670 | Netherland | 09-May'18 | Berth | Kandla |
| Tunsin | 31,963 | USA | 11-May'18 | Berth | Kandla |
| Global Aquarius | 27,080 | Australia | 18-May'18 | Berth | Kandla |
| Jiangmen Trader | 35,160 | USA | 25-May'18 | Berth | Kandla |
| Interlink Ability | 33,100 | USA | 25-Jun'18 | Berth | Kandla |
| New Frontier | 33,165 | USA | 06-Jul'18 | Berth | Kandla |
| Edward Oldendorff | 31,353 | USA | 05-Jul'18 | Berth | Chennai |
| Erradale | 35,200 | USA | 07-Jul'18 | Berth | Kandla |
| Penelope L | 26,900 | Australia | 22-Jul'18 | Berth | Kandla |
| Coco Gyun | 2,000 | - | 25-Sept'18 | Berth | Kandla |
| Alkyoni SB | 44,000 | UK | 07-Nov'18 | Berth | Kandla |
| Union Explorer | 52,500 | UK | 16-Nov'18 | Berth | Kandla |
| Fadelsia | 29,940 | France | 22-Nov'18 | Berth | Kandla |
Provisional data updated till end Nov'18.
Source: SteelMint vessel line-up and customs data
Indian bulk billet exports noted at 40,500 MT, up 4% M-o-M in Nov'18 while bloom export shipments jumped at 36,810 MT in Nov'18 as against nil volume last month.
Iron ore export shipments shot up by 96% M-o-M in Nov'18 to 0.83 MnT against 0.42 MnT in Oct'18.
