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India Containerized Shredded Scrap import prices gain 6.2% during August

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MUMBAI (Scrap Register): India containerized shredded scrap import monthly average prices gained by 6.2 percent to $321 a ton during the month of August this year, according to the latest figures released by the Steel Index.

Buying activity remained limited throughout the month for Indian mills. Buyers were reportedly unwilling to pay the high international prices quoted for shredded material, resulting in prices remaining flat across August.

In the short term the hurricane will likely firm or strengthen already strong expectations for September scrap prices, due to weather related constraints on moving scrap in storm damaged areas.

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