Turkish and Indian import prices again fell by 2-3% last week along with US domestic scrap prices.
Imported scrap was traded at an average of US$ 435/MT i.e. down by US$ 25/MT (month on month basis ) as buyers showed little interest in deep-sea cargoes. The current price level is the lowest level since November 2010.
In shredded material, prices fell by US$ 40/MT (month on month basis). The weekly Indian containerized shredded scrap import prices fell also sharply by 3% from last week's level. Industry demand dropped owing to the Diwali holiday, while the currency fluctuations have restricted the demand since past few months.
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