Containerized scrap export prices to India dip

Dec 07, 2012 | 04:01 PM | Sean Davidson

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

NEW YORK — U.S. export prices for containerized ferrous scrap softened slightly this past week as mills in India and some Far East Asian countries continued to battle weak regional markets for finished products.

Containerized scrap export prices fell between $5 and $12 per tonne compared with sales completed around the third week of November, market participants said.

A week-long impasse between U.S. exporters and buyers for Indian mills ended after the Indian rupee strengthened against the dollar.

U.S. exporters and Indian importers reported transactions in a range of $415 to $418 per tonne c.f.r. for containerized shredded scrap delivered to Mumbai’s Nhava Sheva port, down from a mid-November range of $424 to $430, after which U.S. shipments to India halted as buyers there bid between $400 and $410 per tonne (, Nov. 27).....

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