Fastmarkets calculated the steel scrap, shredded, index, import, cfr Nhava Sheva, India
, at $274.28 per tonne on Friday, down from $282.25 per tonne on June 19.
Market sources reported offers of shredded material at $270-280 per tonne, while a deal and a firm bid were heard at $275-277 per tonne, down from offers of $285-290 per tonne last week.
“No one is buying, there are very few customers, and buyers expect prices to go down by another $10-15 per tonne,” a seller said.
“Sales of finished products are still very dull. Some factories are only at...