INDIA STEEL SCRAP: Prices inch higher despite concerns over recovery

The price of ferrous scrap imported into India in containers moved up in the week to Friday July 24, despite market expectations for demand to remain subdued until later in the year, sources told Fastmarkets.

Fastmarkets calculated the steel scrap, shredded, index, import, cfr Nhava Sheva, India at $285.96 per tonne on Friday, up $4.50 from $281.46 per tonne a week earlier.
A deal was heard at $285 per tonne for UK-origin material, while another was heard for shredded from an unknown origin for $285 per tonne cfr Chennai. Industry sources estimated this to be equivalent to $280 per tonne to Nhava Sheva.
Offers were in the range of $275-295 per tonne, up from $275-285 per tonne last week.
"The market has gone up, but buying is limited. It's still sluggish. There is a bottleneck on logistics," one seller said.

"Exports are supporting the Indian market. [Scrap] buying is...

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