INDIA April 24 2014 10:35 AM
MUMBAI (Scrap Register): India containerized scrap import prices rose further by 3.7% week-on-week to $395 a ton in the week ended April 18th this year, as per the latest figures released by the The Steel Index (TSI).
According to TSI, Indian imports of containerised scrap gained by $14 ton last week to finish at $395 a ton.
According to a prominent trader in the region ‘whilst finished product sales remain slow, buyers are back into imports thanks to local scrap prices going up’.
US and European offers into the region were said to be around $410-415 a ton, although buyers are slowly beginning to take a more cautious approach to procurement, with many expecting prices to soften in May when scrap flows into yards traditionally start to pick-up pace.