INDIA August 04 2014 11:21 AM

MUMBAI (Scrap Register): The average India containerized scrap import prices declined by $5 a ton week-on-week to $389 a ton in the week ended August 01st this year.

According to TSI, continued poor finished steel demand has meant Indian mills have less appetite for imported ferrous scrap for the time being, whilst the appreciation of the US dollar has reduced the purchasing power of scrap importers.

Consequently mills are looking to domestic material to fulfill their needs wherever possible, thus reducing demand for imported material.