Forecasts and market analysis based on price assessments from Fastmarkets MB and Fastmarkets AMM

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February 2019 | Steel Raw Materials

Indian HMS prices to resist upward pressure amid higher trade with Africa, Middle East: Scrap Highlights

India’s dominant position in Africa and the Middle East has kept a lid on India’s HMS import price.

Fastmarkets MB attended the Material Recycling Association of India (MRAI) annual conference, held in Kochi, southern India, attracting some 1,200 delegates on February 2-4. A recycling policy, aimed at raising local scrap availability should be released before India’s general elections in April-May 2019, according to MRAI. Current infrastructure and collection practices mean that local ferrous scrap supply is constrained in certain areas, with many buyers still having to rely on imports. Indeed, despite India’s crude steel output rising 5.6% year on year in the first ten months...


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