Sales of ferrous scrap imported into India resumed this week at lower prices after a pause in trading last week that was triggered by a sudden price drop in the Turkish scrap market, sources told Fastmarkets on Friday September 27.
Fastmarkets' weekly price assessment for steel scrap, shredded, index, import, cfr Nhava Sheva, India, was $251.81 per tonne on Friday, down from $256.82 per tonne one week ago.There were deals heard for shredded material this week at $250 and $253 per tonne, with offers in the range of $245-260 per tonne cfr, little changed from offers at $250-260 per tonne last week.Scrap traders stepped back from the Indian market at the end of last week following a downshift in the price of Turkish scrap by nearly $10 per tonne...