The price of shredded ferrous scrap imported into India decreased for the fifth consecutive week, however many market participants were optimistic that prices had reached their lowest and a recovery was imminent, sources told Fastmarkets on Friday June 28.
Fastmarkets' weekly index for containerized imports of shredded scrap into India went down to $308.88 per tonne cfr Nhava Sheva on Friday, from $312.87 per tonne cfr Nhava Sheva one week previous.This is the lowest price to date this year, and the fifth week in a row of price decreases since May 31 when the price of shredded scrap was calculated at $330.40 per tonne cfr, a decrease of $21.52 per tonne.There were no deals...