Metal Bulletin’s weekly index for containerized imports of shredded scrap into India was $385.44 per tonne cfr Nhava Sheva on April 20, up by $4.17 per tonne week-on-week, compared with $381.27 per tonne cfr last week.
This week’s upward movement brings the price for containerized imports of shredded scrap into India back on par with the $385 per tonne assessment seen on April 6
. Some market participants saw this as a correction after price drops in previous weeks.
“I think the Indian [import scrap] price fell too much and now there’s a bit of a correction,” one seller said.
Shredded scrap was offered at $375-390 per tonne cfr Nhava Sheva throughout the...