INDIA IMPORT SCRAP: Prices inch up on lack of material

The price of ferrous scrap imported into India climbed by less than $1 per tonne this week while market participants struggled to source material, they told Fastmarkets.

Fastmarkets’ steel scrap, shredded, index, import, cfr Nhava Sheva was $282.56 per tonne on Friday November 29, up from $281.98 per tonne last week.
“The market picked up a little bit today,” a trader said. “Next month is only half a month of trading - if [buyers] haven’t booked material, then they will miss out. The market will pick up more next week - they need scrap.”

One deal was heard for shredded material into India at $280...


Carrie Bone

November 29, 2019

17:08 GMT