INDIA IMPORT SCRAP: Prices dip as market falters

The price of ferrous scrap imported into India moved down this week after sentiment turned negative and market participants stepped back from trading, sources told Fastmarkets on Friday November 22.

Fastmarkets’ steel scrap, shredded, index, import, cfr Nhava Sheva, India, was $281.98 per tonne on Friday, down from $289.63 per tonne a week earlier, bringing a consecutive six-week upward streak to an end.
Deals were heard for shredded material into India at $280, $282 and $284 per tonne this week, down from about $290 per tonne last week.
“The market is weaker than it was last week, it has gone down by $6-7 per tonne,” a buyer said.

Market participants said that, despite there being a...


Carrie Bone

November 22, 2019

17:31 GMT