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27 Apr

Indian scrap importers await further price correction

The slowing domestic steel market, coupled with dropping semi-finished and finished steel sales, have cautioned Indian steelmakers to book larger volumes of imported scrap. Steelmakers still consider imported scrap prices costlier versus plunging domestic steel prices and plan to book once scrap quotes drop further, sources tell Kallanish. Offers for containerised UK- and EU-origin shredded scrap plummeted to $440-445/tonne cfr Nhava Sheva and Mundra. The majori…
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Sayed Aameer  |  India
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