Friday, 04 March
The Indian market was subdued this week, UK exporters said, despite reports that Indian mills were totally out of stock..*
At present, Indian shredded scrap is transacting at $470-475/ton cif Nhava Sheva basis. Traders anticipate Indian buyers to return to the market tomorrow, as buyers side-lined the market this week awaiting the budget results.
The Indian steel market was also on silence mode this week, with analysts informing of weak demand for finished products. Analysts also added that furnace owners in South India were complaining about scrap scarcity, which should encourage buyers to the market next
week.
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