Container shipments to India remain scarce
Mar 15, 2013 | 02:13 PM
| Sean Davidson
NEW YORK A stronger U.S. scrap market and higher freight costs off the East Coast have combined with dismal demand from India to continue a stalemate in containerized ferrous scrap exports to one of this countrys top export destinations.
A slight reprieve in exchange rates failed to trigger any significant buying by Indian mills or brokers this past week as market conditions in India remain bleak, several sources said.
"India seems to be out of the international import market for many reasons," one scrap exporter said.
A weak rupee against the dollar, large tonnages of scrap available from local ship demolition, a lack of electricity and a higher-percentage use of local sponge iron were among the reasons for Indian mills exit, the exporter said. ....
To access AMM's full content, please log in below. If you do not have an AMM account, we invite you to take a free trial or subscribe below.
Already a registered amm.com user?
Access to amm.com editorial content is granted only to paid subscribers and trialists. If you do not have an active account in your own name, please either subscribe or take a trial and you will have instant access to amm.com content. Sharing your login credentials with individuals who are not subscribers represents a violation of AMM copyright.
Every morning, every minute no matter how often you follow the markets, there's an AMM subscription to fit your needs.
Not sure if you are ready to invest in a subscription right now? Take a free, no-obligation trial. Start your free trial today.