Tuesday, Aug 16,
The import price of steel scrap corrected by $5-10 in India and the trading remains inactive majorly due to weak demand.
The prevailing price of HMS1&2 is around USD480/t CFR Indian major ports from Europe, which was quoted at $490/t as that of last week. Players predict the price will run at the level in following weeks.
“Imported Scrap might see a further correction due to poor demand from Ingot manufacturers” said a scrap importer based in Mumbai.
Leave a Reply