India’s retreat drives scrap export offers lower

Dec 13, 2012 | 05:02 PM | Sean Davidson

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

NEW YORK — U.S. ferrous scrap export tags to India were pressured again this week after currency markets forced buyers to retreat for the second time in a month.

U.S. exporters and market participants in India reported offer prices in a range of $410 to $420 per tonne for containerized shredded scrap delivered to Mumbai’s Nhava Sheva port. Offers for containers of an 80/20 mix of No. 1 and No. 2 heavy melt scrap were reported about $15 below that level.....

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