The price of shredded ferrous scrap imported into India climbed this week, reflecting a series of deals done at higher prices after last week's slump, sources said on Friday December 7.
Fastmarkets MB's weekly index for containerized imports of shredded scrap into India was $342.78 per tonne cfr Nhava Sheva on December 7, up from $340.75 per tonne on November 30. The index fell by almost $10 per tonne last week because of a lull in trading but it has stabilized and recovered towards the end of this week. Deals were heard at the start of the week at $340 per tonne cfr but increased to $345 and $347 per tonne cfr on Thursday and Friday.Although a US cargo was reportedly offered at $335 cfr per tonne to another port in India, no mill had accepted this by the time of...