India’s containerized shredded scrap import prices fall to $386 a ton

India containerized scrap import prices fell by $3 a ton week-on-week to $386 a ton in the week ended August 08th this year, as per the latest figures released by The Steel Index.

Prices continued to fall against a backdrop of continued poor finished steel demand owing to a lack of construction activity.

International bid/offer spreads have now widened, whilst depreciation of the rupee against the US dollar has also meant imports are less attractive for mills at this time.

Talk of a deep-sea cargo arriving from the US has further dampened demand for containerized material.

Source:Scrap Register

(www.nctv.net)