India’s weekly imported stainless-steel scrap price remained flat on Tuesday with no trades reported amid the nationwide lockdown. The official three-month LME nickel contract inched down by $122/mt.
The Davis Index for 304 (18-8) stainless steel scrap solids settled flat at $1,105/mt cfr India port, Tuesday and the index for 316 stainless steel scrap solids settled at $1,770/mt cfr India port, also unchanged from a week ago. If not extended, the lockdown in India will be lifted in a week. Buyers, however, are yet to resume bookings fearing uncertainty in the markets.
The index for Zurik 85/3 settled at $868/mt cfr India port and the index for 430 stainless steel scrap settled at $413/mt cfr India port, Tuesday, both unchanged from a week ago.
The official three-month LME nickel contract settled at $11,217/mt, Monday, down by 1pc from $11,339/mt from a week ago, the lowest since January 2019.