Prices for imports of containerized shredded scrap into India are expected to continue to rise over the coming week, market sources told Metal Bulletin on Friday March 2.
Metal Bulletin's weekly index for containerized imports of shredded scrap into India was $391.83 per tonne cfr Nhava Sheva on Friday, compared with $382.52 per tonne cfr last week.Indian mills have enjoyed prosperous export markets for finished steel so far this year, with both demand and prices for ferrous scrap in the country increasing."There is quite strong demand, but you also [see that] scrap availability is tight," one seller said."My feeling is that, internationally and in India, the markets are poised to go up by $10-15 per tonne," one Indian trader said."The Indian market seems pretty firm and demand is great. I believe the trend will stay for a while," another seller said.Sales of shredded material from the...