SOUTH ASIA STEEL SCRAP: Price uptrend continues on tight supply, shipping troubles

Prices for shredded steel scrap imported into India and Pakistan continued to move upward in the week to Friday February 19 on tight supply and challenging shipping conditions, sources told Fastmarkets.

India
Fastmarkets calculated its steel scrap, shredded, index, import, cfr Nhava Sheva, India, at $430.86 per tonne on Friday, up from $415.11 per tonne one week earlier.
Two deals were heard this week at $428 per tonne, and $434-435 per tonne, up from deals at $410-420 per tonne the previous week.
Offers this week were as high as $440 per tonne.

One market participant described the current India...

Published

Carrie Bone

February 19, 2021

17:14 GMT

London