India containerized scrap import prices slipped by $2 a ton week-on-week to $324 a ton CFR Nharva Sheva port in the week ended January 02, as per the latest figures released by The Steel Index.
Indian scrap import markets failed to see any fireworks over the last week. Transactions were made, raising the index by $2 a ton, though in relatively thin trade, it would seem presumptious to read too much into that or “call” any emerging trend.
Exchange rates between the INR and USD remain at elevated levels, and steel markets are calm, so the lack of any convincing movement should come as no great surprise.
Zhejiang Yaang Pipe Industry Co., Limited