Heavy Melting Steel (HMS) 1 & 2 (ISRI 200-206) 

Product Specifications:

HMS 1 & 2 80/20 should consist of HMS 1 & 2 in the ratio of 80% (HMS 1) and 20% (HMS 2). The specifications for HMS 1 & 2 are given below for ready reference:

  • ISRI SPEC 200 (HMS 1) – Wrought iron and/or steel scrap 1/4 inch and larger in thickness. All pieces must be smaller than 60×24 in.
  • ISRI SPEC 201 (HMS 1) – Same as ISRI 200 except pieces must be smaller than 36×18 in.
  • ISRI SPEC 202 (HMS 1) – Same as ISRI 200 except pieces must be smaller than 60×18 in.
  • ISRI SPEC 203 (HMS 2) – Wrought iron and/or steel scrap, black and galvanized, 1/8 inch and larger in thickness.
  • ISRI SPEC 204 (HMS 2) – Same as ISRI 203 except pieces must be smaller than 36×18 in.
  • ISRI SPEC 205 (HMS 2) – Same as ISRI 204 except it may contain automotive scrap, except for thin guage material.
  • ISRI SPEC 206 (HMS 2) – Same as ISRI 205 except pieces must be smaller than 60×18 in.

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Origin: Europe
Incoterms: CIF
Payment Terms: Irrevocable, Non-Transferable, Documentary Letter of Credit (SWIFT MT 700), for 100% value of the spot shipment against the required payment documentation at the Port of Discharge. The DLC, shall be issued from the Buyer’s Bank within 05 (Five) working days upon the date of signed contract.
Packing: In bulk
Port of loading: Per Suppliers’ choice
Inspection: By a reputable independent surveyor (SGS, COTECNA, etc.) payable by Seller at Port of Loading and by Buyer at Port of Discharge, should they demand it.
Loading Time: Within 25 days after received and confirmed the financial instrument in seller’s bank.


  1. Seller sends FCO to buyer.
  2. Buyer reverts with the following documents:
    1. ICPO with buyer’s bank data signed and sealed.
    2. Customer information sheet (CIS; template provided by seller) on buyer’s letterhead
    3. Certificate of registration
    4. Scanned copy of Signatory’s passport
    5. RWA letter issued by buyer’s bank (template provided by seller)
    6. Authorization to verify the RWA letter by seller’s bank
  3. Buyer sends the RWA letter issued by their bank on bank’s letterhead to seller for seller’s bank approval.
  4. Seller drafts Sales & Purchase Agreement (SPA) to be logged in both operational banks.
  5. Buyer sends the final contract electronically in PDF format to seller’s corporate email address; an electronically executed final contract can stand as an original.

Guarantee/Collateral Bank-to-Bank Process:

  1. Buyer’s bank sends MT799/RWA (Verbiage provided by seller’s bank) to seller’s bank.
  2. Buyer’s bank sends copy to seller’s corporate email address.
  3. After seller has received the copy of the transferred SWIFT and forwarded to his bank, seller’s bank opens communication with buyer’s bank on the basis of the lodged SPA to discuss all relevant items and documents for both banks’ security.


  1. Within 25 (Twenty Five) days from the seller’s bank confirmation of the instrument, contingent to inspection timeline.
  2. Loading starts as stated in the contractual agreement delivery schedule. Buyer’s representative may be present during loading.
  3. Vessel sails to port of destination.
  4. Buyer’s bank releases payment for the shipment against shipping documents and after Q&Q at the Port of Discharge.
  5. End of transaction.

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