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Indian ferrous scrap import avg prices drop during July

Indian ferrous scrap import average prices dropped during July, with construction activity stunted in the country as a result of the monsoon rains. 

 
According to TSI, containerized Indian shredded imports index dropped by $10 a ton over the course of the month.
 
Ferrous scrap imports into India underwent a correction in July, with the monsoon rains disrupting construction activity and thereby reducing the demand for scrap. 
 
Consequently, the monthly average containerized shredded index fell by $8 a ton (CFR Nhava Sheva port) from June’s pricing, representing a 2% fall month-on-month.
 
Pricing was mostly stable for the first couple of weeks in July, with supply and demand balanced in a largely subdued market. However, a drop in finished steel prices hinted that scrap prices were probably also set to fall, and the market duly delivered in the third week of the month with a $4 a ton drop week-on-week.

Source:Scrap Register

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