Tag: Scrap Market Trends November 2024

India: Imported stainless steel scrap prices rise w-o-w as LME nickel gains post-US election, rate cuts

Nov 8, 2024

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by

Neha TU

in Stainless Steel

Rising LME levels balance out weak domestic demand Trades slow post-Diwali; pick-up expected in mid-Nov India’s imported stainless steel scrap prices increased by up to $40/tonne (t) w-o-w, influenced by a rise in London Metal Exchange (LME) nickel prices, which offset potential declines stemming from weak buying interest and subdued market sentiments. In contrast, domestic…