On October 13, SteelOrbis reported ex-US containerized shredded scrap offers to India at $320-325/mt CFR Nhava with buyer bids at $310-312/mt CFR Nhava.
Sources inform SteelOrbis that ex-US containerized shredded material was sold to India at $320/mt CFR Nhava in the week ended October 20 and that “prices this week appear range-bound with an expectation of possibly reaching $325/mt CFR Nhava before the end of the month.” A trader added, “Offer prices have certainly rebounded $30/mt from the $305/mt CFR Nhava level early in October.”
Offers on ex-US containerized shredded scrap to India are presently at $335/mt CFR Nhava, an increase of $10-15/mt from offers in mid-October.