Prices for shredded steel scrap imported into India and Pakistan moved back up in the week to Thursday April 1 on good market sentiment, sources have told Fastmarkets.
India
Fastmarkets calculated its
steel scrap, shredded, index, import, cfr Nhava Sheva, India, at $443.30 per tonne on Thursday, up from $423.29 per tonne on March 26.
No deals were heard on the market this week, but offers were heard in the range of $430-450 per tonne, up from an offer level of $415-425 per tonne the previous week.
Various mills in the country reported higher finished steel prices this week, on good demand.
"The problem with imported scrap is not the price, but the delays in shipments. [Shipping company] MSC has announced that...