By Vibin Antony
Indian scrap imports in April is shaping up to offer a similarly uneventful month to March, with a continued price tussle between buy- and sell- side maintaining relative price stability, as per the Steel Index.
Scrap supply is really the only variable with potential for change and if the volume of available material increases it will lend weight to the argument for a dip in prices.
With the monsoon season on the horizon, domestic demand - already at low levels - looks set to remain poor, ensuring that market sentiment will be doing little to escape from its current depressed state.
However, TSI’s monthly average for containerized Indian shredded imports fell $0.15 a ton to $287.60 a ton CFR Nhava Sheva port.
Prices either rose marginally or remained flat week-on-week throughout the month, with no drastic price movements seen.
The general sense of disappointment emanating from the market after February’s budget continued into March with market sentiment remaining depressed.
(This article is compiled by Vibin Antony on behalf of Scrap Register. Send in your suggestions and comments to editor@scrapregister.com)
Indian scrap imports in April is shaping up to offer a similarly uneventful month to March, with a continued price tussle between buy- and sell- side maintaining relative price stability, as per the Steel Index.
Scrap supply is really the only variable with potential for change and if the volume of available material increases it will lend weight to the argument for a dip in prices.
With the monsoon season on the horizon, domestic demand - already at low levels - looks set to remain poor, ensuring that market sentiment will be doing little to escape from its current depressed state.
However, TSI’s monthly average for containerized Indian shredded imports fell $0.15 a ton to $287.60 a ton CFR Nhava Sheva port.
Prices either rose marginally or remained flat week-on-week throughout the month, with no drastic price movements seen.
The general sense of disappointment emanating from the market after February’s budget continued into March with market sentiment remaining depressed.
(This article is compiled by Vibin Antony on behalf of Scrap Register. Send in your suggestions and comments to editor@scrapregister.com)
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