INDIA IMPORT SCRAP: Prices play catch-up with global increases
The price of ferrous scrap imported into India increased this week due to the upswing in global ferrous scrap markets, sources told Fastmarkets.
Fastmarkets’ steel scrap, shredded, index, import, cfr Nhava Sheva was $307.54 per tonne on on Friday December 27, up from $296.05 per tonne a week earlier.
Deals were heard for shredded scrap at $305-310 per tonne and offers at $315 per tonne. Negotiations were mainly at $300-310 per tonne cfr India, sources said.