[Scrap Im&Ex] Indian Scrap imports may remain minimal in July

INDIA July 20 2015 9:40 AM

MUMBAI (Scrap Register): Imports of scrap into India look set to remain minimal in July as negative market sentiment throughout the world weighs heavily on an already depressed Indian market, said The Steel Index.

Indian local scrap prices are once again falling and the spectre of cheaper Chinese billet continues to loom large despite the increase in steel customs duties. 

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Scrap imports into India fell 7% in June and a further fall in July would not be surprising.

Meanwhile, the monthly average for Indian imports of containerized shredded material rose by $6.95 a ton to $290.80 a ton CFR Nhava Sheva port.

(This article is compiled by Vibin Antony on behalf of Scrap Register. Send in your suggestions and comments to editor@scrapregister.com)