Indonesian scrap importers turn away from HMS
Feb 21, 2013 | 12:08 PM
| Weilyn Loo
Tags
Indonesian scrap,
scrap imports,
ferrous scrap,
heavy melt scrap,
shredded scrap,
prime industrial scrap,
plate and structural scrap,
premium scrap
weilyn loo
SINGAPORE — Indonesian scrap importers and traders are shying away from deals involving heavy melting scrap (HMS), and are instead buying shredded scrap.
The switch was prompted by tighter regulations on the import of scrap materials, and particularly a lack of clarity over what constitutes impurities, following the seizure by Indonesian customs a year ago of thousands of containers carrying ferrous scrap due to alleged contamination.
HMS cargoes that had taken just a couple of weeks to clear customs now can take as long as 60 days, one Singapore-based scrap trader told AMM sister publication Steel First.....
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