The price of shredded scrap imported into India dipped again in the week to Friday October 2 on negative market sentiment resulting from uncertainty in the Turkish scrap market, sources told Fastmarkets.
Fastmarkets calculated the steel scrap, shredded, index, import, cfr Nhava Sheva, India at $308.27 per tonne on Friday, down from $ 309.58 per tonne one week prior and the third consecutive move lower on a weekly basis."The market has definitely moved down. People are waiting for the international market to correct $10-15 per tonne and then India will be back in the market. Prices in India have bottomed out; there is...