The price of shredded ferrous scrap imported into India fell this week, confirming the correction that market participants had been expecting, sources told Fastmarkets on Friday February 22.
Fastmarkets' weekly index for containerized imports of shredded scrap into India was $339.44 per tonne cfr on February 22, a fall of $6.06 per tonne from $345.50 per tonne cfr on February 15.Offer prices for shredded material into India ranged from $335 to $345 per tonne cfr, but no deals were heard on the market this week as market participants withdrew from buying activities to assess the situation.This is the first downward movement since January 18, after which prices had steadily climbed for four weeks, starting...