Prices for containerized shredded scrap imports into India slipped this week following a halt in buying, market sources told Metal Bulletin on Friday June 29.
Metal Bulletin's weekly index for containerized imports of shredded scrap into India slipped $0.61 per tonne to $381.38 cfr Nhava Sheva on June 29, from $381.99 per tonne cfr Nhava Sheva on June 22.There were no deals heard this week, but offers for shredded material into Nhava Sheva ranged from $375-385 per tonne cfr, mostly for UK-origin material. A variety of issues held the Indian market back this week, with a drop in local scrap prices, an active monsoon season and the Indian rupee deprecating against the dollar all affecting sales."The market is pretty quiet because it's monsoon...