Ferrous scrap export prices to India strengthen

Mar 28, 2014 | 03:18 PM | Sean Davidson

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

NEW YORK — Prices for containerized ferrous scrap exports to India have strengthened over the past five days as a weaker dollar gave buyers more room to raise prices.

U.S. and European suppliers also pushed for higher prices due to expectations that their domestic markets could trend higher in April.

However, demand from Indian mills was moderate at best, with very few transactions reported. Market participants said traded volumes were low due to resistance from both buyers and exporters.

While several exporters are holding out for higher prices, several mills are occupied with year-end financial work and will wait for election results in India before deciding on strategies for the rest of 2014.....

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