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Indian containerized shredded scrap import prices gain to $392 a ton

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MUMBAI (Scrap Register): The containerized shredded prices for Indian imports gained $2 a ton to finish at $392 a ton in the week ended August 29, said The Steel Index.

According to TSI, scrap import market was generally quiet, with only a handful of relatively small packages being booked from the Middle East.

HMS #1&2 80:20 of Middle Eastern origin was sold in the range US$370-375 a ton, equivalent to around $390-395 a ton for shredded material, whilst UK shredded offers were reported to be in the region of $400 a ton and above.

With domestic finished steel demand low at present, mills are running at lower capacities and are able to meet most of their needs via the domestic scrap market.

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