Prices for containerized imports of ferrous scrap arriving to India increased again on Friday February 23 amid solid demand from mills and buoyed by the recovery in the Turkish import market, sources told Metal Bulletin.
"The Chinese market opened up well, Turkey is going well, so I see no reason there can't be another $5 per tonne on the price," one trader said. "In the last two weeks, local Indian steel markets moved up by $22-23 per tonne, which helped people to buy," he said. "Markets are quite bullish," one consumer added. Metal Bulletin's weekly index for containerized imports of shredded scrap into India was $382.59 per tonne cfr Nhava Sheva on February 23, compared with $378.75 per tonne cfr...