Fastmarkets calculated the steel scrap, shredded, index, import, cfr Nhava Sheva, India
at $278.58 per tonne on Friday, up from $275.21 per tonne a week earlier.
Most market sources reported offers for shredded material at $280-285 per tonne, up from $270-285 per tonne last week, although an offer at $270 per tonne was heard.
No deals were heard for shredded material over the past week, but interest continues to grow and many are expected to return to the market for purchases in the coming weeks.
There is a shortage of shredded material in the UK due to the lockdown there, in addition to the United Arab Emirates’ export scrap ban. The...