INDIA IMPORT SCRAP: Positive sentiment pushes up trading activity and prices

The price of ferrous scrap imported into India increased again this week thanks to positive sentiment in the market that continues to boost trading activity, sources told Fastmarkets.

Fastmarkets calculated its steel scrap, shredded, index, import, cfr Nhava Sheva at $317.35 per tonne on Friday January 10, up from $312.17 per tonne a week earlier.
Prices have continued to move up on a weekly basis since November 29 when it was assessed at $282.56 per tonne cfr.
A flurry of deals were heard this week for shredded scrap, with a large majority of it being sourced from the UK. Five of the seven deals heard originated from there, totaling 6,000 tonnes.

Deals were heard for shredded scrap at $312,...

Published

Carrie Bone

January 10, 2020

16:57 GMT

London