INDIA June 03 2014 MUMBAI (Scrap Register): India containerized scrap import prices gained by $1 a ton week-on-week to $411 a ton in the week ended May 30th this year, as per the latest figures released by the The Steel Index (TSI).

According to TSI, containerised shredded index for Indian imports gained 0.2% last week to finish at $411 a ton CFR port.

Scrap pricing remained strong as the crisis surrounding mining permits in Odisha and resultant lack of sponge iron persisted, keeping scrap demand buoyant.

Recent appreciations in the Rupee against the US dollar have also helped to boost import prices, with offers from the US and Europe in the region of $410-415 a ton.