The price of shredded ferrous scrap imported into India has fallen for a third week to its lowest so far this year on poor market conditions, sources told Fastmarkets on Friday August 2.
Fastmarkets' weekly price assessment for steel scrap, shredded, index, import, cfr Nhava Sheva, India, was $308.75 per tonne on August 2, down from $311.50 per tonne on July 26.Offer prices for shredded scrap moved down again this week to $300-315 per tonne, from $305-320 per tonne last week.The appetite for imports into the country remained poor due to a combination of factors, including the availability and price of domestic scrap, poor finished steel sales and the monsoon season, as well as holiday absences in the UK and...