The imported steel scrap prices have crashed in Week05 by about 5% WoW

It is understood that previously reported unsold old cargoes at Kandla are being offered at very low prices by the owners to generate liquidity putting downward pressure on import prices, which incidentally have crashed at Turkey in Week 05 forcing sellers to look for buyers in India at reduced levels.

US origin HMS 80:20 is reported to have come down to USD 270 per tonne CFR Turkey this week down by about USD 28 per tonne WoW