Platts TSI Shredded Scrap CFR Nhava Sheva India
Platts TSI Shredded Scrap CFR Nhava Sheva India price assessment provides a lens into containerized Indian ferrous scrap metal imports. The Indian steel market has become the second-largest crude steel producer, behind China. Trading interest with the nation has grown significantly as a result. Being centrally located, India imports ferrous scrap metal from a wide range of sources, buying significant volumes from the UK, Benelux and the US West Coast, as well as from South Africa, the UAE, Singapore and Australia.
Platts TSI Shredded Scrap CFR Nhava Sheva assesses scrap metal grades complying with ISRI 211 classification or equivalent, specifying homogeneous and magnetically separated iron and steel scrap originating from automobiles, unprepared No. 1 and No. 2 steel, and miscellaneous baling and sheet scrap, with an average density of 70 lb/square foot. Other grades of steel scrap can be normalized to ISRI 211 where appropriate.
Platts TSI Shredded Scrap CFR Nhava Sheva captures trades, bids and offers from active market participants across the supply chain, with the data normalized to reflect ISRI 211. Platts assesses the market on a CFR Nhava Sheva basis. The price assessment is published in US dollars on a per metric ton basis, and is timestamped to 4.30 pm UK time on Fridays. Platts pricing is compliant to International Organization of Securities Commissions' (IOSCO) principles and undergoes an external annual review conducted by a Big Four auditor.