Fastmarkets calculated the steel scrap, shredded, index, import, cfr Nhava Sheva, India
, at $291 per tonne on Friday, down from $297.50 per tonne one week earlier.
There were no deals heard for shredded material in the week, but offers were heard at $285-300 per tonne, down from $290-305 per tonne last week.
Despite some traders offering material, there were no buyers willing to make purchases, due to the weakness of the rupee.
“I have not heard any bids from mills. It looks like they are not interested in purchasing,” a market source told...