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24 Sep

Indian imported scrap falls on slowing steel demand

Falling demand for finished steel has brought down raw material offers in India, with scrap quotes plunging dramatically, Kallanish notes. UK-origin shredded scrap quotes are down by $15-20/tonne to $505-510/t cfr Nhava Sheva. US-origin shredded scrap offers dropped sharply, to $508-510/t, and European shredded is assessed at $510-515/t cfr. “Finished steel demand is very low in India … even semi-finished steel offers have fallen, which has impacted …
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