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21 Oct

Indian imported scrap quotes surge despite low demand

Indian imported scrap quotes have surged by $10-15/tonne on-week, despite low steel demand in the nation. Traders and buyers cite a hike in finished steel prices and increase in global offers as major reasons for the rise in scrap offers. United Arab Emirates-origin HMS 1&2 80:20 prices increased by $10-15/t to $490-495/t cfr Nhava Sheva. West Africa-origin HMS 1&2 is at $490-495/t cfr Mundra and Nhava Sheva, and $495-500/t cfr Goa and Chennai. UAE-origin …
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