The price of shredded ferrous scrap imported into India has fallen to fresh annual lows this week while offer prices continue to fall in the hope of securing a buyer, sources told Fastmarkets on Friday August 16.
Fastmarkets' weekly price assessment for steel scrap, shredded, index, import, cfr Nhava Sheva, India was $300.67 per tonne on August 16, down from $305.17 per tonne on August 9.Although some traders refused to lower their offers and wanted to wait it out, others were trying to entice trades by lowering their offer prices further this week. Offer prices for shredded scrap moved down below $300 per tonne at $290-310 per tonne, declining from...