The import market for shredded steel scrap in India has extended its losses into January as suppliers in Europe and the Middle East cut their offer prices to encourage Indian buying interest amid slower European and Turkish demand, industry sources said on Friday January 4.
Fastmarkets MB's weekly index for containerized imports of shredded scrap into India was calculated at $318.39 per tonne cfr Nhava Sheva on January 4 compared with $325.74 per tonne cfr Nhava Sheva on December 28. "There are lower offer prices available from Europe compared with the Middle East, as European exporters...