Indian scrap buyers return to US shores

Mar 14, 2014 | 04:43 PM | Sean Davidson

Tags  scrap, ferrous, steel, exports, India, shred, Aman Rewri, Mahindra Group Sean Davidson

NEW YORK — A stronger Indian rupee has sparked the return of Indian mill buyers to U.S. and European shores as currency rates have allowed exporters to raise scrap prices to acceptable levels.

Ferrous scrap exports to India from the United States, the United Kingdom and Europe fell to nearly half the typical trade volumes over the past eight months, with Indian mills struggling to navigate adverse domestic economic conditions and a weak rupee.....

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