SOUTH ASIA STEEL SCRAP: Markets slump on international downtrend Prices for shredded steel scrap imported into India and Pakistan moved down in the week to Friday March 12 following a correction in the international scrap market, sources have told Fastmarkets.
India
A deal was heard at $450 per tonne this week, down from a deal level at $455 per tonne the week before. Offers were in the range of $445-455 per tonne this week, down from offers as high as $470 per tonne a week earlier.
“It’s a stalemate; nothing is happening. As soon as the market starts a correction, buyers go on hold,” a seller said.
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Prices for shredded steel scrap imported into India and Pakistan were largely unchanged over the week to Friday March 5 on lackluster interest among mills, sources have told Fastmarkets.
Prices for shredded steel scrap imported into India and Pakistan continued to move upward in the week to Friday February 19 on tight supply and challenging shipping conditions, sources told Fastmarkets.
The price of shredded steel scrap imported into India and Pakistan moved up in the week to Friday February 12 with sentiment turning positive, sources have told Fastmarkets.