Containerized shredded scrap has been trading at $270-280/mt FAS on the US East coast, which according to a source, translates to approximately $300-305/mt CFR India. While prices have declined $10/mt from the $310-315/mt CFR India deals heard in early April, a source noted that “the decrease is relatively marginal” despite the global trends with the decline in Chinese export prices and global pressure on scrap prices due to limited trading.
Sources informed SteelOrbis that scrap deals to India from the US Gulf coast have also been concluded.