Prices for containerized shredded scrap imports into India were flat this week with buyers stepping back from the market as offer prices drop, market sources told Metal Bulletin on Friday May 25.
Metal Bulletin's weekly index for containerized imports of shredded scrap into India was $382.90 per tonne cfr Nhava Sheva on May 25, little changed from $382.31 per tonne cfr Nhava Sheva on May 18. Market participants pegged the highest achievable offers for shredded material into India at $385 per tonne this week, down from $390 per tonne last week.One deal for UK-origin material was reportedly sold at $385 per tonne cfr Nhava Shava but material was available on the market at offers as low as $375 per tonne with the same delivery terms."The market is quiet this week. We will sell our material next week. We're waiting for the right price," a trader said."There are no buyers...