India: Ferrous scrap import prices rangebound in absence of bookings

India’s scrap import market continues to witness limited trading, as per SteelMint reports. Buyers are less interested in booking imported scrap owing to preference for domestic substitutes.

• SteelMint’s bi-weekly assessment for UK/Europe-origin containerised shredded scrap stands at $540-545/t CFR Nhava Sheva, stable against the end of last week. However, bids drifted lower by $5-10/t than quoted offers.
• Assessments for UAE-origin HMS 1 are now at $485-490/t CFR, while assessments for HMS 1&2 (80:20) are at $480/t CFR.