INDIA IMPORT SCRAP: Market pushed up by higher offers

The price of ferrous scrap imported into India has continued to climb this week, with further rises expected in the coming weeks, sources told Fastmarkets on Friday November 8.

Fastmarkets’ calculation for the steel scrap, shredded, index, import, cfr Nhava Sheva, India, was $284.15 per tonne on Friday, up from $276.57 per tonne one week earlier. A deal for shredded material into India was heard at $280 per tonne this week, up from $275 per tonne last week, while offers reached as high as $290 per tonne cfr. “Offers have increased but nobody is buying – it’s not realistic. We offered material but there were no buyers this week. Domestic Indian billet...

Published

Carrie Bone

November 08, 2019

17:24 GMT

London