Prices for ferrous scrap imported into India have moved up for the second week in a row following a series of deals completed at higher prices, sources told Fastmarkets on Friday October 18.
Fastmarkets' calculation of the steel scrap, shredded, index, import, cfr Nhava Sheva, India, was $261.17 per tonne on Friday, up from $253.56 per tonne one week ago and $251.34 per tonne on October 4.Deals for shredded material into India this week were heard at $255, $260 and $265 per tonne, mainly for UK-origin scrap, compared with $255 per tonne last week."The market is increasingly getting better. This week, after a long time, there were some good sales [and] a lot of business has been done. [It was] not the same level as one...