Indian ferrous scrap prices up in mixed mart

Apr 25, 2014 | 05:24 PM | Sean Davidson

Tags  scrap, scrap exports, ferrous scrap, heavy melt, shredded scrap, HMS, India scrap, Sean Davidson

NEW YORK — Indian import prices for containerized shipments of ferrous scrap gained a few dollars this past week as strong demand from specific regions helped offset the absence of any meaningful demand from other regions in the country.

Market participants reported stronger demand from mills in southern India, while buyers in northern India were absent following the weakening of the Indian rupee against the dollar.

Mill buyers in the south reported a busy week of trading despite the rupee losing some ground, noting that their push for volumes helped prices inch higher.

Buyers in southern India, along with sellers and traders from the United States and Europe, reported transactions of containerized shredded scrap in a range of $400 to $405 per tonne c.f.r. Nhava Sheva, up $3 to $5 per tonne from a week earlier.....

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