Indian ferrous scrap buyers turn to Middle East, Africa

Dec 08, 2009 | 11:21 AM | Silvia Antonioli

Indian buyers are turning to the Middle East and Africa for cheaper ferrous scrap supplies as U.S. and European prices remain uncompetitive, according to market participants.

"Europe and the U.S. are not competitive enough, but the U.K. is slightly more competitive than the rest of Europe due to the currency exchange rate," a European trader said.....

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