Prices of ferrous scrap imported into India fell at a slower rate this week amid signs that the market has started to stabilize after several weeks of decreases, sources told Fastmarkets on Friday October 4.
Fastmarkets' weekly index for steel scrap, shredded import, cfr Nhava Sheva was $251.34 per tonne on Friday, down by just $0.47 from $251.81 per tonne one week ago.This compared with week-on-week price falls of $5.01 per tonne, $5.89 per tonne and $15.29 per tonne over the past three weeks.There were deals heard for shredded material this week ranging from $250 to $255 per tonne, which was a similar level to deals reported last week.Offer prices were slightly lower at $245-255 per tonne, down...