Imported scrap offers to India have inched up towards end of the week following a hike in Turkey scrap prices. Shredded scrap offers in containers now stand at $310-315/t, CFR Nhava Sheva.
However, not much trades were reported due to bearish market sentiments in finished long steel segment amid prevailing monsoon season. Limited trades were observed throughout the week. SteelMint’s assessment for shredded 211 scrap from UK/Europe in containers stands at around $313/t CFR Nhava Sheva, unchanged w-o-w.
Few HMS trades were also reported from Dubai at $292-295/t CFR Mundra level earlier this week.
Imported scrap offers for India (21st Aug-28th Aug)
Few end users cited enough inventories in hand and have kept themselves away from booking material this week. Chennai based importers continue to remain less active in the market, highlighted traders.
Domestic scrap prices –
Domestic scrap prices in western India (Jalna) up by INR 300 over a week and currently stands at INR 23,200/t against INR 22,900/t reported in last week.
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