On February 22, SteelOrbis reported ex-UK and ex-EU containerized shredded scrap import offer prices to India at $340-345/mt CFR.
Sources inform SteelOrbis that prices for containerized shredded scrap have since declined to $330-335/mt CFR while HMS I/II 80:20 scrap has reduced the spread and prices are reportedly at $324-330/mt CFR. A source noted that the spread was as high as $15-18/mt between the two grades in the early part of February but has narrowed down on limited activity and slight market uncertainty.