INDIA IMPORT SCRAP: Prices fall on weak global markets, low local demand

Prices for containerised ferrous scrap shipments to India dropped this week amid weakening in global markets and continued low demand for finished steel in the country, sources told Metal Bulletin on Friday September 29.

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...


Lee Allen

September 29, 2017

14:11 GMT