Exporters, India mills struggle on scrap prices

Oct 18, 2013 | 04:52 PM | Sean Davidson

Tags  scrap prices, scrap exports, ferrous scrap, steel scrap, heavy melt, HMS, India mills, Sean Davidson

NEW YORK — Indian steel mills continue to resist high offer prices for containerized scrap, and the resulting impasse has affected traded volumes.

More mills have found common ground on prices for heavy melt scrap, but a wide gap on bids and offers resulted in very few sales of shredded scrap this past week, market participants said.

Bids and offers for an 80/20 mix of No. 1 and No. 2 heavy melt ranged from $340 to $350 per tonne c.f.r. Nhava Sheva, with several trades reported in a range of $345 to $348 per tonne and a few falling on either side of that range.....

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