INDIA IMPORT SCRAP: Buyers return to market on strong demand

Prices for containerized shredded scrap imported into India were stable this week with buyers returning to the market following a lull in activity, sources told Metal Bulletin on Friday April 27.

Metal Bulletin’s weekly index for containerized imports of shredded scrap into India was largely unchanged this week at $385.15 per tonne cfr Nhava Sheva on April 25, down by $0.29 week-on-week, compared with $385.44 per tonne cfr last week. Deals were heard at $385-390 per tonne cfr Nhava Sheva for material from the UK and Europe during the week, including transactions for 3,000 tonnes and two 2,000-tonne lots. One trader described demand from Europe as “strong and stable.” One seller said that prices this week were at similar levels to last week, and a trader agreed. Shredded containerized prices were now similar to bulk prices, and this meant that some were choosing to buy bulk material instead, according to one seller. “If the prices for shredded are the same...

Published

Carrie Bone

April 27, 2018

18:00 GMT

London