Indian containerized shredded scrap import prices advanced during last week, while Indian aluminium scrap prices remained flat.
According to The Steel Index, containerized shredded scrap prices for Indian imports rose by $4 last week to $290 a ton CFR Nhava Sheva.
The modest price rise can be attributed to both limited scrap supply to India and a feeling that unless Chinese mills lower their billet prices further then scrap has reached the bottom.
Further price rises pushed for by suppliers have been resisted by the market this week, with buyers citing poor finished steel product demand in India and the inevitable slowdown in construction that will accompany the June monsoons.
As per the Scrap Register Price Index, scrap prices for Aluminium Accessories, Aluminium ingots, Aluminium Rod Company, Aluminium Rod Local, Aluminium Sheet cutting, Aluminium utensil, Aluminium Wire remained flat during last week.
Source:metal.com
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