Fastmarkets calculated the steel scrap, shredded, index, import, cfr Nhava Sheva, India
, at $297.50 per tonne on Friday, down from $302.54 per tonne one week earlier.
There were no deals heard for shredded material this week, but offers were heard at $290-305 per tonne, down from deals heard at $302 and $305 per tonne last week.
Trading conditions were so poor this week that many suppliers simply were not offering material to the market, while others were slow to return to work following the Indian festival of Holi, which took place during the first part of the week.
“There is no business this week,” a seller said, “and there was the Holi festival. There...