US ferrous export prices to India pressured

Jun 15, 2012 | 03:42 PM | Sean Davidson

Tags  ferrous scrap exports, scrap prices, exports, shredded scrap, heavy melt scrap, Sean Davidson

NEW YORK — U.S. export prices for bulk and containerized scrap to India are under pressure after British sales into Chennai pushed tags lower.

A bulk vessel hauling shredded steel scrap to Chennai from the United Kingdom sold at $430 per tonne c.f.r. Chennai, setting the tone for weaker containerized scrap tags, which fell significantly Friday.

A large international exporter on Friday sold 10,000 tonnes of containerized shredded scrap at $413 per tonne c.f.r. from its British location, effectively lowering the market by more than $10 per tonne from Thursday’s price levels, one market participant said.....

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