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City
[United States]
Posted on : Nov 01, 2005
Thanks to representations from the metals
recycling industry with the assistance of BIR, the Indian government had agreed
to relax import control procedures applied to U.S. and European ferrous scrap,
the Ferrous Division and Shredder Committee Joint Round-Table in Milan was
informed by BIR Ambassador for South Asia Ikbal Nathani of the Nathani Group of
Companies.
Inspections had been tightened after accidents
and loss of life resulting from the inclusion of explosive materials, including
ammunition, in imported heavy melting scrap. The Indian government had now
accepted that US and EU scrap should be subject to less rigorous customs
procedures since it was not arriving from a war zone, although scrap from the
Middle East and Africa would continue to undergo closer scrutiny. An outright
ban on HMS imports was being applied to Iran as a war zone, Nathani pointed out.
In the first six months of this year, India
took over from Turkey as the leading buyer of EU scrap by importing 1.357
million metric tons from the region - equivalent to an increase of 257.1 percent
over the first half of 2004, according to the European report delivered by Anton
Van Genuchten of Germany-based TSR GmbH & Co. KG.
Turkish imports slid 35.8 percent to 1.062
million metric tons over the same comparative periods while EU steel scrap
shipments to China fell 14.2 percent to around 200,000 metric tons.
Ferrous scrap market prospects for the coming
months appeared more positive than negative, added Van Genuchten. Key factors
included good orders from the steel industry, available demand from outside of
the EU, and the potential for winter weather to disrupt the supply of scrap.

High export duties imposed by the Ukraine had
almost eliminated the country’s overseas shipments of scrap, according to Denis
Ilatovskiy of Mair Joint Stock Company in Russia. In his home country,
meanwhile, scrap collection had increased by 8 percent this year and was likely
to total around 30 million metric tons for 2005 as a whole. Sales to domestic
scrap buyers had risen 11 percent to 12.4 million metric tons in the first nine
months of the year while exports had edged 3 percent higher to 10.3 million
metric tons.
The majority of US scrap traders were
anticipating an upturn in prices of around US$ 30 per metric ton for November,
according to John Neu of Hugo Neu Global Trade. “An increase of this magnitude
seems justified,” he said, “as it will restore scrap collection rates, yet not
cause short selling.”
Neu also provided the Roundtable with a report
on the Asia Pacific market in which he noted a recent increase in production
levels among some electric arc furnace mills in South East Asia. The anticipated
increase in iron ore prices for 2006 would represent “another positive factor”
for the scrap sector, he added.
Guest speaker Antonio Gozzi, managing director
of Duferco Group, predicted that scrap prices would remain above $ 200 per
metric ton in 2006, before adding that “the age of cheap scrap is finished once
and for all”. He also speculated that some 60 percent of world steel demand
would be emanating from Asia by the year 2010.
A report on BIR Shredder Committee activities
confirmed the commissioning of at least 12 new shredders over the previous five
months: six of these units had been installed in North America, four in Europe
and two in Australia. Worldwide shredder capacity currently stood at between 75
million and 90 million metric tons per annum “and
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