Imported scrap offers to Indian market more or less remained stable last week , with offers for shredded scrap (containerized) varied from $420-425/t CFR, Mumbai, from European exporters, where as US exporters heard to have kept offers at around $425/t CFR, Mumbai.
Although buying interest was limited on factors like falling sponge iron (DRI) prices in domestic market and weak Rupee against US dollar.
Although some importers believe that prices might find support as Indian Rupee has started showing some signs of strength (specially after government partially de-regularized diesel prices) and anticipated rise in pig iron prices in domestic market.
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