Prices for containerized shredded scrap imported into India edged up this week on deals done at higher levels, although market sentiment remained negative, sources told Metal Bulletin on Friday August 3.
Metal Bulletin's weekly index for containerized imports of shredded scrap into India ticked upward to $357.56 per tonne cfr Nhava Sheva on Friday, from $355.27 per tonne cfr Nhava Sheva last week.Last week's price was the lowest seen so far this year, and some market participants felt that prices would not be viable if they fell any lower.Trading activity remained limited this week, according to one buyer.Only one deal was heard in the market this week for shredded, which was reported at $355 per tonne cfr Nhava Sheva for 1,000-2,000 tonnes. This was up from the...