Offers for ferrous
scrap to Indian importers remain unchanged from last week. No bulk orders were being
heard closed in past few days. HMS 1&2 (80:20) offers are hovering around $400/MT
CFR Nhava Sheva Mumbai from US based suppliers.
“Importers stay
sidelines on lower buying interest at the moment. Activities in construction
sector has been slowed down and it has also lower the demand for finished
material as well as MS Ingot and Scrap”, said a major importer based in Mumbai.
Market sources also report a small consignment of 500 mt of shredded scrap bought at 415/t CFR Mumbai.
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