Inventories at Indian steel mills are running low after several months of buying small volumes of imported scrap. Steel producers are expected to dip into the market to replenish their stocks before the Christmas holidays, according to market participants.
Metal Bulletin’s index price for imported shredded scrap in India on Friday rose to $329.07 per tonne cfr Nhava Sheva, up by $5.01 per tonne week-on-week compared with $324.06 per tonne cfr last week.
Prices for HMS 1&2 (80:20) widened upward to...
