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

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May 2019 | Steel Raw Materials

Indian mills to keep focus on lower-grade import scrap: Scrap Highlights

Low finished steel demand is also tightening the shredded-over-HMS differential.

Indian steel-to-scrap margins narrow, giving mills fresh impetus to reduce scrap prices. General election fever is sweeping India, but that is no good thing for the country’s construction sector, which Indian traders report has seen a rapid drop-off in activity over recent weeks. India’s domestic rebar price fell $25 per tonne month on month on May 10. With HMS 1&2 prices recording an increase over the month due to higher demand for lower-grade material, that narrowed the rebar-to-HMS scrap margin from $219 on April 5 to $186 on...


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