Domestic cues depress container scrap exports
Jul 03, 2012 | 01:23 PM
| Sean Davidson
Tags
ferrous scrap,
scrap exports,
containerized scrap,
HMS 1&2 (80:20),
India,
Taiwan,
U.S. ferrous scrap prices,
Sean Davidson
NEW YORK — Speculation that the domestic ferrous scrap market could lose further ground in July had a dampening effect on export prices this week, AMM understands.
East Coast shippers of containerized scrap to India said sales prices had dropped by at least $5 per tonne this week despite a strengthening Indian rupee as buyers took advantage of troubled shipments and fears of a weakening U.S. market.
Sources reported a few sales of containerized shredded scrap to Nhava Sheva at $405 per tonne c.f.r. this week. Those sales were down between $5 and $10 per tonne from sales of $410 to $415 per tonne completed late last week.....
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