INDIA STEEL SCRAP: Weak market knocks prices down further

The price of ferrous scrap in containers imported into India edged downward again over the past week, with demand remaining at low levels, sources told Fastmarkets on Friday July 3.

Fastmarkets calculated the steel scrap, shredded, index, import, cfr Nhava Sheva, India, at $270.18 per tonne on July 3, down from $274.28 per tonne the Friday before.
Market sources reported offers of shredded material at $265-275 per tonne, down from $270-280 per tonne the week before, while a deal for UK-origin material was heard at $270 per tonne, down from a deal at $276 per tonne the previous week.

“It’s difficult, parts of the country are still in lockdown [because of the Covid-19 pandemic], and work...

Published

Carrie Bone

July 03, 2020

15:40 GMT

London