INDIA IMPORT SCRAP: Prices up but slowdown expected for Diwali

October 27, 2018 / www.metalbulletin.com / Article Link

The price of shredded ferrous scrap imported into India edged up this week ahead of an expected a slowdown for the religious festival of Diwali, sources told Fastmarkets on Friday October 26.

Fastmarkets' weekly index for containerized imports of shredded scrap into India inched up to $355.67 per tonne cfr Nhava Sheva on October 26, from $354.42 per tonne cfr Nhava Sheva on October 19.Deals this week for shredded material were heard concluded at $352, $355 and $357 per tonne cfr Nhava Sheva.The market was expected to slow down while the Diwali festive period approached. The religious celebration will begin on November 7."The...

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