The price of shredded ferrous scrap imported into India was almost unchanged week on week due to market uncertainty and poor demand, sources told Fastmarkets on Friday May 31.
Fastmarkets' weekly index for containerized imports of shredded scrap into India was $330.40 per tonne cfr Nhava Sheva on Friday, little changed from $330.25 per tonne cfr one week earlier.Last week, prices went up by $10 per tonne following the end of the country's general election process, which was won by the incumbent BJP party. Offer prices were as high as $335 per tonne cfr for shredded, but few deals were reported.This week, however, trading has been thin with poor demand, while the government returns to normal functioning."The election was more of a sentiment boost....