INDIA June 01 2015 3:23 PM
NEW DELHI (Scrap Register): The containerized shredded index for Indian imports was unchanged at $298 a ton CFR Nhava Sheva port in the week ended May 22, as per the latest figures from the Steel Index.
According to TSI, trade was relatively quiet, with many market participants attending the BIR event in Dubai.
Participants reported that cheap domestic scrap and DRI prices made imports less attractive at this moment in time, whilst many are also expecting a fall in prices to coincide with Ramadan and the onset of the monsoon season.
The DGFT has announced changes to the newly- formed PSIC regulations, although participants are still seeking further concessions on the directive.
(This article is compiled by Vibin Antony on behalf of Scrap Register. Send in your suggestions and comments to email@example.com)