Imported scrap offers to Indian market have been kept stable from last week. Although buyers are unwilling to take positions.
“Current offers for shredded scrap stands at around $420/t CFR Mumbai and HMS (80:20) at around $400-405/t CFR. We got HMS offers from west Africa at around $390/t CFR last week.
Indian steel mills are not very aggressive at present as local sponge iron prices are lower than imported scrap.” said an Indian buyer based in Mumbai.
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