INDIA STEEL SCRAP: New trade confirms lower market price

The price of ferrous scrap in containers imported into India moved down this week with fresh transactions breaking the trade stalemate and confirming the market level, sources told Fastmarkets on Friday June 26.

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...

Published

Carrie Bone

June 26, 2020

16:00 GMT

London