Prices for containerized shredded scrap imports into India edged up this week, with the market seeking a correction following a series of recent falls, market sources told Metal Bulletin on Friday April 20.
Metal Bulletin's weekly index for containerized imports of shredded scrap into India was $385.44 per tonne cfr Nhava Sheva on April 20, up by $4.17 per tonne week-on-week, compared with $381.27 per tonne cfr last week.This week's upward movement brings the price for containerized imports of shredded scrap into India back on par with the $385 per tonne assessment seen on April 6. Some market participants saw this as a correction after price drops in previous weeks."I think the Indian [import scrap] price fell too much and now there's a bit of a correction," one seller said.Shredded scrap was offered at $375-390 per tonne cfr Nhava Sheva throughout the week, with a deal heard for 500 tonnes of...