India: Imported scrap prices strengthen on active demand

  • India’s imported scrap market witnessed resumption in bookings after domestic substitute products and finished steel prices inched up.
  • 175 t of HMS 1&2 (80:20) deals in containers from the UAE were heard at $580/t CFR Nhava Sheva last weekend.
  • Dubai-origin HMS 1 offers are at $590-600/t, while West Africa-origin HMS is assessed at $575/t CFR Nhava Sheva.

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