INDIA IMPORT SCRAP: Trading picks up at lower prices

The price of ferrous scrap imported into India dropped further this week, although trading was more active, sources told Fastmarkets on Friday February 7.

Fastmarkets' calculation of the steel scrap, shredded, index, import, cfr Nhava Sheva, India, was $284.44 per tonne on Friday, down from $291.99 per tonne one week before, marking the fourth consecutive week of price decreases.
This week, deals have been heard for shredded material imported from the UK and EU into India at $280, $282 and $285 per tonne cfr, while offers were as high as $290 per tonne cfr.

Market participants agreed that prices...

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