INDIA IMPORT SCRAP: Shredded prices move down amid weakened sentiment

Prices for shredded scrap imported into India fell this week amid poor market sentiment, sources told Metal Bulletin on Friday October 27.

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...


Lee Allen

October 27, 2017

13:32 GMT