Indian steel mills pushed on scrap prices

Oct 11, 2013 | 04:56 PM | Sean Davidson

Tags  steel scrap, ferrous scrap, scrap exports, heavy melt, shred, HMS, Sean Davidson

NEW YORK — Low scrap inventories and changes in the currency market have apparently sparked increased interest from steel mills in India, with suppliers pushing for higher prices.

Market participants said Indian import prices for shredded scrap delivered to Nhava Sheva climbed gradually through the past week as offer prices continued to rise.

Sales early in the week were reported in a range of $363 to $368 per tonne c.f.r. Nhava Sheva, while late in the week sales were reported at $370 per tonne. There also were unconfirmed reports of a sale at $375 per tonne after one exporter turned down a bid of $373 per tonne.....

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