February 22, 2012: Indian imports of containerized shredded and other scrap types are quoted at $470/ton cfr Nhava Sheva for EU-origin material.

But imports may become a little slow owing to the budget announcement due next month, sources said.

However, while the national budget may cause a pause in Indian imports, buyers need to book scrap in this buy-in window for arrivals for use in May production before the monsoon season curtails construction activity in the country.

Source: ISMW