Scrap import offers to India tick down from the recent peak

On January 25, SteelOrbis reported ex-UK and ex-EU containerized shredded scrap import offer prices to India at $325-330/mt CFR. The prices began to surge in February with offer prices peaking mid-month at approximately $350/mt CFR on the grade. The higher offer prices were supported by higher Turkish import scrap prices and the global market scrap trend. Those prices have now declined and are reportedly at $340-345/mt CFR from the EU and UK regions, down $5-10/mt from the peak but higher than the month-ago range.