INDIA STEEL SCRAP: Price returns to pre-pandemic levels

The price of ferrous scrap imported into India in containers stabilized this week after last week’s $15 per tonne surge, sources told Fastmarkets on Friday August 7.

Fastmarkets calculated the steel scrap, shredded, index, import, cfr Nhava Sheva, India at $304.18 per tonne on Friday, up slightly from $301.15 per tonne one week earlier.
Last week, the price surged by $15.19 per tonne, crossing back over the $300 per tonne level for the first time since March 6 when the index was $302.54 per tonne. Market sources reported that production levels had also increased from pandemic lows.
The market was not as active in purchasing cargoes this week, with only minimal trades heard, compared with the flurry of purchases completed last week.

Only one deal was heard this week for UK shredded at $300 per tonne cfr, this compares with deals ranging from $285 to...

Published

Carrie Bone

August 07, 2020

16:38 GMT

London