Ferrous scrap export prices to India decline
Apr 30, 2013 | 03:38 PM
| Sean Davidson
NEW YORK U.S. export prices for containerized ferrous scrap delivered to India dropped over the past four trading days on poor demand and reports of two bulk sales from Australia to different Indian ports.
Market participants said that prices for containerized shred fell about $5 per tonne from two weeks ago to a range of $405 to $408 per tonne c.f.r. Nhava Sheva. Sources said that buyers have now stepped away from the market in hope that prices will fall to $400 per tonne or lower.
Meanwhile, a bulk cargo of 30,000 tonnes of shred originating out of Australia and Europe reportedly was bought by a large Indian scrap company at $409 per tonne c.i.f. Chennai, while a 45,000-tonne cargo of shred originating from Australia was booked at $400 per tonne c.i.f. Mumbai and Kandla, according to different sources.....
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.