INDIA STEEL SCRAP: Market reverses downward trend on renewed Turkish activity

The price of shredded scrap imported into India inched upward on Friday October 16 after the downward price trend in the market reversed, sources have told Fastmarkets.

Fastmarkets calculated the steel scrap, shredded, index, import, cfr Nhava Sheva, India, at $308.62 per tonne on Friday, up from $305.74 per tonne one week earlier. This was the first upward movement after four consecutive weeks of decline.
Deals heard this week were in the range of $305-307 per tonne, while offers were in the range of $305-315 per tonne, compared with deals at $300-309 per tonne last week and offers at $295-315 per tonne.

In recent weeks, the international market has...

Published

Carrie Bone

October 16, 2020

16:47 GMT

London