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29 Jul

Indian imported scrap market braces for drop

Indian imported scrap prices have remained stable on-week. Offers are expected to come down as buyers are hesitant to book imported scrap owing to high offers and the upcoming monsoon-related slowdown. UK-origin shredded scrap offers are hovering at $535-540/tonne cfr Nhava Sheva, while US shredded quotes are at $530-535/t cfr, a market source says. European shredded scrap offers came down this week to $565-570/t cfr Nhava Sheva and are expected to decli…
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