22
Feb
11:58
Indian imported scrap market slumps for third week
In the Indian ferrous scrap market, buying activity has remained sluggish for the third consecutive week.
Ample stock, coupled with cheaper domestic scrap availability, has subdued demand for imported scrap, notes Kallanish.
EU-origin shredded scrap is priced at $410-415/tonne cfr India, while West Africa-origin HMS scrap is hovering at around $375-380/t.
Some distressed cargoes have resulted in small quantities of West Africa-origin HMS being sold at $370/t lev…
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Anonymous
Very good overview of the weekly steel market.
Anonymous