Fastmarkets calculated the steel scrap, shredded, index, import, cfr Nhava Sheva, India
at $309.47 per tonne on Friday, just 17 cents down from $309.64 per tonne one week previous.
Deals were heard done at $305 and $310 per tonne cfr Nhava Sheva this week, one of which was for UK origin material, while the offer level ranged from $305 to $315 per tonne, down from a high of $315-320 per tonne cfr last week.
Most market participants reported a softening on the market this week, of around $5 per tonne, with a further $5 per tonne expected soon, although not all agreed with this.
“The market is on...