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30 Sep

India scrap import market anticipates hike in offers

The Indian scrap import market is anticipating a price hike on the back of rising demand for Indian-origin semi-finished steel. The market witnessed a marginal hike on Thursday in United Arab Emirates-origin HMS 1 scrap offers. UAE HMS 1 scrap offers have jumped $10-15/tonne on-week to $470-475/t cfr Nhava Sheva. However, UAE-origin HMS 1&2 80:20 quotes remained stable at $455-460/t cfr Nhava Sheva, Kallanish notes. West Africa-origin HMS 1&2 was assessed …
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