India: Imported scrap trades up slightly at lower offers

Indian scrap market has witnessed a marginal improvement in imported scrap trades during the past one week. Prices have dropped significantly on a weekly basis. Moreover, now suppliers are holding back offers and waiting for the market to stabilize, SteelMint learnt.

SteelMint's assessment for containerised shredded of UK/US origin stands at $435/t CFR Nhava Sheva level, down by $10 w-o-w. Confirmed recent trades- Trades of 3,000 t of Dubai origin HMS 1&2 (80:20) was concluded at around $385-390/t CFR basis Towards the closing of last week, a prominent Indian steel mill had booked