India shredded scrap prices slip as demand falls

Jun 09, 2014 | 06:10 PM | Sean Davidson

Tags  ferrous scrap, scrap exports, shred, heavy melt, prices, containerized shipments, bulk vessel sales, India Sean Davidson

NEW YORK — Prices for containerized shredded scrap exported to India softened over the past week amid fading demand.

Steel mills preparing for production cutbacks during India’s monsoon season, which began this month, and weaker prices on finished and semifinished products and other raw materials forced scrap prices to soften, market participants told AMM.

Importers and exporters reported containerized shredded scrap trades in a range of $398 to $405 per tonne c.f.r. Nhava Sheva for the week ended June 6, down $5 per tonne from the previous week’s range.....

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