Prices for shredded steel scrap imported into India and Pakistan are following the trend of the international market and moving up over the week to February 26, sources told Fastmarkets.
India
Fastmarkets calculated its
steel scrap, shredded, index, import, cfr Nhava Sheva, India at $459.75 per tonne this week, up from $430.86 per tonne one week earlier.
There were no deals heard in the market this week, however, offers were reported as high as $470-480 per tonne, up from $428-435 per tonne the week previous.
"The markets are again dull, prices are high but there is no buying," a trader said.
The rising prices of the international market have, in turn, boosted prices in other key scrap markets such as India and...