India containerized scrap import prices decline to $373 a ton

INDIA March 12 2014 10:21 AM

CHENNAI (Scrap Register): India containerised scrap import prices declined by 1.1% week-on-week to $373 a ton in the week ended March 7th this year, as per the latest figures released by the The Steel Index (TSI).

According to TSI, containerised shredded scrap index for Indian imports fell by $4/ton last week to finish at $373 a ton.

A relatively active week saw shredded material transact in the range of US$375-380 a ton from the UK and Europe, whilst material from the Middle East traded at a significant discount to these levels.

The full effects of weaknesses in international scrap markets were not reflected in Indian scrap import prices, as an increase in freight rates into the region acted as a counterbalance on CFR prices.