Rumors ‘not helpful’ for scrap mart: Severstal NA’s Shivaram

Mar 14, 2013 | 12:37 PM | Corinna Petry

Tags  scrap market, scrap rumors, scrap purchases, Severstal North America, Sachin Shivaram, direct-reduced iron, DRI, Nucor hedging

CHICAGO — The U.S. scrap market "is the most opaque in the world, and rumors influence the price more than supply and demand because the industry loves to gossip," according to Severstal North America Inc.'s general manager of metallics purchasing Sachin Shivaram.

"There is not enough reliable information," Shivaram said March 12 at the Platts 9th Annual Steel Markets North America Conference in Chicago. "There is only a little bit of information, and everyone is trading on that same bit."....

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