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The steel scrap shredded, index, import, cfr Nhava Sheva, India, has been subject to continuous fluctuations in the market as a result of factors such as the Covid-19 pandemic and the global shipping crisis.
This means that the index, previously calculated once a week on Fridays, now warrants a twice-per-week publishing schedule to accurately capture and reflect the market’s movements.
The index will be now published on Tuesday and Friday each week.
Fastmarkets’ steel scrap shredded, index, import, cfr Nhava Sheva, India, was $510.93 per tonne on May 25, down from $517.88 per tonne on May 21.
MB-STE-0421 Steel scrap shredded, index, import, cfr Nhava Sheva, India, $ per tonne Quality: Shredded material, compliant to ISRI specifications 210-212. Grades normalized: shredded, HMS 1&2 (70:30 mix), HMS 1&2 (90:10 mix), HMS 1, Bonus Grade, P&S, and A3 material. Quantity: Min 100 tonnes Location: cfr Nhava Sheva Timing: Within six weeks Unit: USD per tonne Payment terms: Cash, other payment terms normalized to Nhava Sheva Publication: Twice weekly, Tuesdays and Fridays, at 4pm London time Notes: Containerized, all origins.
The change in frequency for the shredded scrap index will not affect the weekly price assessment for steel scrap, HMS 1&2 (80:20 mix), import, cfr Nhava Sheva, India.
To provide feedback on this index, or if you would like to provide price information by becoming a data submitter to this index, please contact Carrie Bone by email at: pricing@fastmarkets.com. Please add the subject heading ‘FAO: Carrie Bone, re: India shredded index.’
To see all Fastmarkets’ pricing methodology and specification documents, go to https://www.fastmarkets.com/about-us/methodology.