INDIA SCRAP: Market rises as interest grows

The price of shredded ferrous scrap imported into India in containers moved up on Friday May 29, on growing interest from mills returning to the market for the first time since the Covid-19 lockdown, sources told Fastmarkets.

Fastmarkets calculated the steel scrap, shredded, index, import, cfr Nhava Sheva, India, at $275.21 per tonne on Friday, up from $266.67 per tonne a week earlier.
Many market sources reported offers for shredded material $270-285 per tonne, up from $260-280 per tonne last week, although some placed the market level as low as $255 per tonne and as high as $290 per tonne. There were no firm bids or deals to confirm these prices, however. 

Trading in the country has been almost entirely on hold since...

Published

Carrie Bone

May 29, 2020

16:45 GMT

London