The increase to offer prices for both shredded and HMS-grade
imported to India caused a stand-off between buyers and
sellers, with little business taking place. "Nobody is
interested as the gap between buyers and sellers is too high.
We are not prepared to pay these prices," one buyer said.
"Buyers and sellers are a pretty long distance apart.
It’s very tough right now," a seller said. Both
the high volume of scrap buying in Turkey over recent weeks,
and the price increases which have taken place as a result,
have exerted great pressure on prices for material imported to
India. As they did in Turkey, Indian import scrap prices
started the year strongly before collapsing in mid-January then
bouncing back over the past two weeks. "Most buyers were caught
off-guard by the recent turnaround in...