Offer prices for ferrous scrap to be imported into
India remain unchanged so far this week. Market participants observe that
weakening Rupee in exchange market and high container costs have kept the
offers high even amid low buying interests mills.
Shredded
material in containers was on offer from Europe and the UK at US$ 485-490/MT
CFR Nhava Sheva i.e. unchanged from last week. HMS 1&2 (80:20) also sold at
US$ 455-460/MT CFR Nhava Sheva, the same level as last week.
Few
small deals were concluded in last few days at US$ 490/MT CFR Nhava Sheva for
shredded material. Dubai based material also offered at US$ 490-495/MT CFR for
shredded, while HMS (80:20) offered at US$ 465-475/MT CFR.
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