INDIA October 10 2014 11:45 A
MUMBAI (Scrap Register): The Indian steel mills have either reduced or kept their finished steel prices stable for October as scrap demand looks to remain flat.
According to The Steel Index, this environment suggests little support for scrap price rises, and we may even see further falls.
The upcoming festive period could also damage demand, but many industry participants are expecting the market to improve once the Diwali holiday is over.
Indian ferrous scrap import prices were mostly stable in a flat market affected by the mon-soon rains. The monthly average for containerized Indian shredded imports index gained $0.55 a ton month-on-month.