SOUTH ASIA STEEL SCRAP: Market sentiment dips as week ends

Prices for shredded steel scrap imported into India and Pakistan have risen on active purchasing that tailed off toward the end of the week, sources told Fastmarkets on Friday June 18.

Fastmarkets’ steel scrap shredded, index, import, cfr Nhava Sheva, India, was $533.93 per tonne on June 18, up from $516.47 per tonne on June 11.
Offers heard this week were in the range of $520-540 per tonne cfr, while a deal was reported by market participants at $534-540 per tonne, believed to be for several thousand tonnes of shredded. This was up from a deal level of $515 per tonne last week.
Market sources said that anyone looking for higher tonnages would now need to pay more to secure a larger volume, due to the persistent shortage of shredded material globally.

“India is...

Published

Carrie Bone

June 18, 2021

17:08 GMT

London