On November 19, SteelOrbis reported that ex-UK and ex-EU containerized shredded scrap import offer prices to India were trending stable at $355-365/mt CFR with the risk for a downward trend shift.
Sources inform SteelOrbis offers for containerized shredded scrap from the UK an EU have since trended down to $340-345/mt CFR. A source noted that offers as low as $330-340/mt CFR were heard in the market from other destinations as sellers became nervous with the global downtrend, especially if Turkish mills succeed in closing on sub-$300/mt CFR deals for HMS I/II 80:20. Most scrap importers are taking a wait-and-see perspective given the risk of further price declines.