INDIA IMPORT SCRAP: Prices jump $16 on freight increases and rising Turkish market

The price of ferrous scrap imported into India surged this week on freight rate increases and a rising Turkish scrap market, sources told Fastmarkets on Friday February 21.

Fastmarkets calculated the steel scrap, shredded, index, import, cfr Nhava Sheva, India, at $303.09 per tonne on Friday, up by $16.13 per tonne from $286.96 per tonne one week ago.
Deals for shredded at the start of the week were heard at $290, $300, and $302 per tonne cfr, for UK-based material, before further deals were heard at $307-308 per tonne by the end of the week.
Offer prices ranged from $300 to $310 per tonne, up from $285-293 per tonne last week.

Market participants told Fastmarkets that freight rates were increasing due to the lack of containers available as a result of the novel coronavirus (2019-nCoV)...

A shift to the later stages of gold and silver bull markets

Gold stocks plunge on metal drop

Gold stocks still up after pullback late in the week

US regional bank slump goes global, driving market into gold

Gold stocks weaker but outperform slump in other sectors