SOUTH ASIA STEEL SCRAP: Prices rise after increases in finished steel deals

Prices for shredded steel scrap imported into India and Pakistan rose in the week to Friday April 9 as a result of higher finished steel prices, sources told Fastmarkets.

India
Fastmarkets calculated its steel scrap, shredded, index, import, cfr Nhava Sheva, India, at $456.38per tonne on Friday, up from $443.30 per tonne on April 1.
Deals were heard at $445-450 per tonne and $455 per tonne this week, while offers were as high as $465 per tonne, up from an offer level of $430-450 per tonne last week.

Finished steel prices in the country have supported higher imported scrap prices, but many market participants have expressed concern over the rising number of coronavirus cases in the country, with some states having reinstated lockdown measures. Further restrictions could affect sentiment in...

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