Metal Bulletin’s index price for imported shredded scrap in India was $313.12 per tonne cfr Nhava Sheva, down by $6.38 per tonne week-on-week.
“We were thinking that, after [the religious festival of] Diwali, the markets would go up, but the market is weakening,” one trader said.
“People are not ready to buy at the [offer price] levels,” one seller said. “Turkey is not buying, and that’s making them scared.”
Turkish imported scrap prices have decreased again over the past...