INDIA IMPORT SCRAP: Market drops in line with Turkish price plunge

The price of ferrous scrap imported into India dropped this week after a sudden sharp fall on the international scrap market had a knock-on effect, sources have told Fastmarkets.

Fastmarkets' calculation of the steel scrap, shredded, index, import, cfr Nhava Sheva, was $313.61 per tonne on Friday January 17, down from $317.35 per tonne on January 10.
This was the first time the price had fallen since November 29, and was linked to the sudden drop in Turkish scrap prices after a cargo booked late on Wednesday, and reported on Thursday, led to a price fall of $15 per tonne day on day, spooking the global scrap markets.

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