INDIA IMPORT SCRAP: Prices surge $10 per tonne after election ends

The price of shredded ferrous scrap imported into India went up by $10 per tonne after the end of the country’s general election process, which was won by the incumbent BJP party, market sources told Fastmarkets on Friday May 24.

Fastmarkets’ weekly index for containerized imports of shredded scrap into India went up by $10.46 per tonne to $330.25 per tonne cfr Nhava Sheva on Friday, from $319.79 per tonne cfr on May 17. Trading came to a pause on May 23 with offer prices for shredded material unchanged week on week at $320-325 before the result of the election was announced. But by Friday, offer prices had surged by $10 per tonne to $335 per tonne cfr. The market had been...

Published

Carrie Bone

May 24, 2019

17:05 GMT

London