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.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)...