The price of ferrous scrap imported into India moved up this week following continued increases in other global scrap markets, sources told Fastmarkets on Friday April 17.
Fastmarkets calculated the
steel scrap, shredded, index, import, cfr Nhava Sheva, India, at $272.50 per tonne on Friday, up from $245.19 per tonne one week earlier.
Trading remained on hold for many in the country, which remained under lockdown to contain the spread of the Covid-19 pandemic. The lockdown came into place on March 25 and
has now been extended until May 3, instead of the original end-date of April 15.
From April 20 onward, some local areas may ease restrictions depending on their level of infection, which could result in increased activity. But many construction and infrastructure projects in the country were in city areas which were likely to be virus hotspots.
"The finished steel...