A deterioration in Turkish import prices of more than $50 per tonne over the past fortnight
has pushed down Indian import prices, along with those in neighbouring Pakistan.
“There is pressure on sellers which is leading them to drop prices to generate sales,” one seller said.
“Scrap buying is almost zero because sales in finished products are going down day-by-day, adding to the inventories [of material left unsold]. Mills are thinking of taking a production cut from next month,” he added.
Metal Bulletin’s index for containerised shredded scrap imports into India was $317.19 per tonne cfr Nhava...