SOUTH ASIA STEEL SCRAP: Liquidity crunch hits import prices

A liquidity crunch in India halted gains in the price of shredded steel scrap imported into India and Pakistan in the week to Thursday December 31, market sources told Fastmarkets.

India
Fastmarkets calculated the steel scrap, shredded, index, import, cfr Nhava Sheva, India at $458.02 per tonne on Thursday, down by $3.61 per tonne week on week from $461.63 per tonne a week earlier.

Offers were at $475 per tonne cfr, with a transactions heard at $445-470 per tonne cfr India for United Kingdom-origin cargoes. Materials from the United States were also sold...

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