INDIA STEEL SCRAP: Prices inch down after flurry of trades

The price of shredded scrap imported into India continued to decline in the week to Friday October 9 following a flurry of trades at lower prices, sources told Fastmarkets.

Fastmarkets calculated the steel scrap, shredded, index, import, cfr Nhava Sheva, India at $305.74 per tonne on Friday, down from $308.27 per tonne one week previous and the fourth consecutive week of downward movement.
Prices in the Turkish scrap market - a bell weather market for the global scrap sector - booked fresh cargoes at lower prices on Thursday, causing uncertainty in other scrap markets such as India. As a result, offer prices in the Indian market also dipped, while other market participants withdrew from offering material until there was more clarity. 

Earlier in the week sources reported several deals for...

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