INDIA March 04 2014 12:25 PM
MUMBAI (Scrap Register): India containerised scrap import prices fell by nearly 1% week-on-week to $377 a ton in the week ended February 28th this year, as per the latest figures released by the The Steel Index (TSI).
According to TSI, containerized shredded scrap index for Indian imports fell by $3 a ton last week to finish at $377 a ton. This follows the previous week’s fall, and reflects the greater availability of material to Indian buyers on the market at present.
The news that US recyclers in particular have focused their attention on Indian buyers came as no surprise given the higher bid prices coming from Indian buyers, when compared to their Turkish counterparts.
Other than the US material, scrap was sourced via the usual routes for this market this week, namely the Middle East and Europe.