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Market moves up but sentiment split
Date: 14/09/2020

The price of ferrous scrap imports in containers into India moved up this week, despite sentiment being split due to the ongoing pandemic in the country, sources told Fastmarkets on Friday September 11. Fastmarkets calculated the steel scrap, shredded, index, import, cfr Nhava Sheva, India at $323.20 per tonne on Friday, up from $314.81 per tonne one week previous. Deals for shredded material were heard done at $315 per tonne, $320 per tonne and $324 per tonne and $325 per tonne cfr Nhava Sheva, up from deals heard at $310-315 per tonne last week. “Prices have stabilized and I haven't heard of further increases. There's strong sentiment and good buying being done, the positivity is there. Domestic demand [in India] has shot up in the last month but there are some hiccups due to coronavirus.

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