Indian scrap buyers wary amid US strike fears
Sep 20, 2012 | 03:10 PM
| Sean Davidson
NEW YORK East Coast exporters are still struggling to book any meaningful sales of containerized ferrous scrap to India as demand remained virtually absent this week, sources told AMM.
Mixed speculation over the outcome of a possible labor strike at 14 East and Gulf coast ports (amm.com, Sept. 19), as well as weak finished product demand in India, have made buyers hesitant, several sources said.
Market participants in the United States, Europe and India offered different views on present market conditions. While most players said U.S. offers for containerized shredded scrap delivered to Indias Nhava Sheva port were trekking in a $405- to $410-per-tonne range, some said offers and even sales had occurred on both sides of that range.....
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