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Home / Metal News / Indian Scrap traders see a sharp correction in June import prices

Indian Scrap traders see a sharp correction in June import prices

iconJun 12, 2014 16:46
Source:SMM
Scrap traders in India are expecting a significant correction in the price of imported scrap into the country this June, with the oncoming monsoon season likely to dampen appetite for material.

INDIA June 12 2014 1:32 PM

MUMBAI (Scrap Register): Scrap traders in India are expecting a significant correction in the price of imported scrap into the country this June, with the oncoming monsoon season likely to dampen appetite for material.

A rush to produce more products before the onset of the annual rains may occur, but the monsoon traditionally brings about a significant decrease in production levels at Indian steel mills.

Indian ferrous scrap import prices strengthened further, with the monthly average for May up 3.6% on April. Sentiment was greatly boosted by Modi’s general election victory.
 

Indian scrap

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