India import shred prices soften further amid low buying activity

摘要

London—Workable Indian import prices for containerized shred material continued to fall for the third consecutive week, as mills held back from scrap buying on poor finished steel demand and concerns over the spread of the coronavirus. S&P Global Platts assessed India import containerized shredded scrap at $308/mt CFR Nava Sheva Oct. 2, down $4/mt on the week, to reach the index’s lowest level since August 21. “Local billet and finished steel prices are all down – sales are too slow, and unless China bounces back, we are looking at a correction [in scrap prices],” an Indian trading source said.