INDIA IMPORT SCRAP: Prices fall, buying activity stalls in nervous market

Prices for containerized imports of ferrous scrap into India fell this week, with negative sentiment and a drop in demand weakening the market, sources told Metal Bulletin on Friday January 19.

Indian import scrap markets achieved their highest prices for more than three years a fortnight ago, but the market undid those gains after a sharp decline in buying activity in Pakistan.
Metal Bulletin’s index for Indian import shredded scrap dropped to $371.63 per tonne cfr Nhava Sheva on January 19, down by $8.82 per tonne week-on-week from $380.45 per tonne cfr.
“Not only [in] India, but [prices in] Pakistan and Bangladesh have fallen,” one seller said.

“There is no buying in Pakistan and I am not sure why....

Published

January 19, 2018

16:28 GMT

London