16
Aug
10:58
Indian scrap importers cut offers amid stagnant demand
Imported scrap offers to India have dropped by $5-7/tonne over the past week due to sluggish demand.
After nearly a month of stability, prices have fallen to $400-405/t cfr Nhava Sheva for EU/UK-origin scrap, while West Africa-origin HMS scrap is now offered at $375-380/t cfr Nhava Sheva. However, bids for both types are lower by $5-10/t, notes Kallanish.
Scrap sellers, initially reluctant to reduce offers due to high freight costs, have been forced to lower pri…
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Anonymous
Very good overview of the weekly steel market.
Anonymous