HMS Scrap Market Demand
The finished steel prices in the international market have gone down but still there is no major impact on the prices of HMS Scrap. With the high demand and limited supply, the HMS Scrap still maintains the same pace in the market. It is expected in the coming year, the demand of the steel will increase by six percent and this clearly indicates that the prices of the HMS Scrap will rise rather than going down.
From past three consecutive months HMS Scrap is maintaining its prices at US$ 420/MT (Bundle Scrap) and shredded scrap prices gone up by USD 2/MT. The HMS 1-2 has maintained its level at USD 458/MT in break bulk whereas pig iron of steel grade was trading at USD 499/MT. The Pig Iron of Casting grade traded around USD 507/MT.
The prices of HMS Scrap rose in Spain this week due to high competition. The demand of Scrap is also increasing in India. The Scrap is mainly imported in containers shipments to major ports in India. There are very few traders who are importing in break bulk to India. Most of the break bulk shipment against the high demand from China.