India containerized Shredded Scrap import avg prices fall to $287.60 a ton

INDIA April 21 2015 6:12 PM
MUMBAI (Scrap Register): The monthly average for containerized Indian shredded imports fell by $0.15 a ton to $287.60 a ton CFR Nhava Sheva port, as per the Steel Price Index.

Prices either rose marginally or remained flat week-on-week throughout the month, with no drastic price movements seen.

The general sense of disappointment emanating from the market after February’s budget continued into March with market sentiment remaining depressed.

The modest price rises can predominantly be attributed to limited scrap supply. However, further price increases pushed for by suppliers have been resisted by the market with buyers citing poor finished steel demand and the continued spectre of cheap Chinese imports.

The inevitable slowdown in construction that accompanies the beginning of the monsoon season is a further weight on the mind of market participants.