Scrap import prices to India tick upward

Thursday, 25 April 2019 21:15:10 (GMT+3)   |   San Diego

On April 9, SteelOrbis reported ex-UK and ex-EU containerized shredded scrap (211) import offers to India at $330-338/mt CFR.

Sources inform SteelOrbis that shredded scrap offers to India have ticked up to $335-342/mt CFR. Offers increased $5/mt from the bottom of the previous range and $4/mt from the top of the same range. 

Consistent with another SteelOrbis April 24 report, ex-EU and ex-UK HMS I/II 80:20 scrap offers continue at $330/mt CFR. A source noted that active demand from India is supporting prices, but expressed concern that buyers may seek to push prices downward given the discounted export prices surfacing from the US West coast and Japan to the Asian market.

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