INDIA IMPORT SCRAP: Prices up on firmer steel demand, low availability

Prices for imports of ferrous scrap arriving to India in containers gained traction this week amid better demand for finished steel and tighter supply at exporter yards, sources told Metal Bulletin on Friday December 1.

Activity has increase in the Indian import scrap market in recent weeks as mills have bought material to bolster their previously low stock levels of the material. “Demand from factories is picking up as there is huge shortage of scrap locally,” one seller said. “Finished [steel] prices are also improving and sales are picking up with inventories getting cleared.” Another trader said it would be difficult to find containers as December is a short month. "There will be a shortage of scrap until the middle of January,” he said. Metal Bulletin’s index for imported shredded scrap rose to $335.88 per tonne cfr Nhava Sheva on Friday up $2.42 per tonne from last week's $333.46 per tonne cfr. Around...

Published

Lee Allen

December 01, 2017

16:48 GMT

London