Metal Bulletin’s price assessment for Indian import shredded scrap was $318.40 per tonne cfr Nhava Sheva on Friday, up by $6.50 per tonne week-on-week.
A rise in export prices from UK, European and US docks has meant that traders who are trying to find a buyer in India have had to raise their target selling prices.
“The UK has come up £15-20 [$20-26 per tonne] in recent days, so I can’t sell shredded to India for less than $330-335 per tonne cfr,” one trader said.
Shredded sales...
