Ferrous scrap import offers to India dropped by $5/t on 1 Jun’21 on limited trades compared to the week that ended 28 May’21, as per SteelMint data. SteelMint’s assessment for UAE-origin HMS 1&2 (80:20) scrap was heard at $465/t, CFR Nhava Sheva. However, dull sentiments weigh on trades. The scrap import market remains quiet on subdued finished steel demand as well as the lull in the international market. SteelMint’s bi-weekly assessment for containerised shredded scrap of UK-origin stands at $502/t, CFR Nhava Sheva, down by $2/t since the end of last week.
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