INDIA April 07 2014 11:05 AM
CHENNAI (Scrap Register): India containerized scrap import prices advanced by $7 a ton week-on-week to $383 a ton in the week ended April 4th this year, as per the latest figures released by the The Steel Index (TSI).
According to TSI, shredded scrap index for containerised Indian imports gained by 1.9 % week-on-week to $383 a ton.
A week of strong buying by Indian mills saw material sourced from Europe, the UK, the Middle East and Canada against a backdrop of full finished steel product order books.
The recent appreciation of the Rupee has also served to increase the buying power of Indian traders, in spite of rising international scrap prices.