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15 Dec

Indian scrap falls amid upcoming holidays, slowed demand

Prevailing sluggish domestic steel demand coupled with upcoming winter holidays in Europe and the US have softened scrap imports in India and ultimately led to a drop in offers. Moreover, bulk scrap inventories at Kandla, Vizag and Chennai ports continue to cater for urgent requirements, and stocks are expected to last till mid-January, Kallanish notes. This week, offers for US-origin HMS and shredded mix bulk cargoes have surged to $430-435/tonne cfr Kandla and Cā€¦
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