Indian steel scrap market divided

Oct 02, 2013 | 12:09 PM | Sean Davidson

Tags  steel scrap, ferrous scrap, scrap exports, India market, heavy melt, shredded scrap, Sean Davidson

NEW YORK — The Indian steel scrap market appears to be divided, with larger producers marking a gradual return and smaller producers still waiting on the sidelines.

In recent trade, the country’s imports of shredded scrap were reported in a range of $365 to $370 per tonne c.f.r. Nhava Sheva, but market participants were quick to note that only a handful of large producers traded at that level.

For the rest of the market, bids for shredded scrap were reported in a range of $350 to $355 per tonne, while offers from the United States, the United Kingdom and continental Europe reportedly increased following the sales to large producers. Offers were mostly reported in a range of $365 to $375 per tonne, although one trader said offers from Europe have trekked as high as $385 to $390 per tonne.....





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