The price of shredded ferrous scrap imported into India went up this week after deals were agreed at higher prices, market participants said on Friday January 25.
Fastmarkets' weekly index for containerized imports of shredded scrap into India was $322.34 per tonne cfr Nhava Sheva on January 25, up from $318.73 per tonne cfr Nhava Sheva on January 18.Deals for shredded material were heard done at $320 and $330 per tonne this week, with offers ranging from $320 to $335 per tonne cfr."It seems like we have hit the bottom [of the market] and are slowly coming back up," a trader said.Last week, traders' opinions were split about whether...