On April 13, SteelOrbis reported ex-UK origin shredded containerized offers to India up at $378-385/mt CFR.
Sources inform SteelOrbis that various small tonnage deals of ex-UK containerized shredded scrap in the range of $390-400/mt CFR have been completed over the past week, supporting offers for the product at $395-405/mt CFR.
A source noted that with mixed trends in domestic billets offers at the end of the week ended May 4, a slight decline on domestic billet offers as the ongoing week begins, NINL returning to pig iron production and placing some downward pressure on domestic pig iron prices, rangebound iron ore prices, and overall uncertainty, he did not see scrap import prices trending up further. He noted that buys by various scrap importers would be necessary, but prices are likely to remain rangebound in May “barring any unanticipated factor."