Shredded scrap tags to India off again

Jun 13, 2014 | 03:42 PM | Sean Davidson

Tags  ferrous scrap, scrap exports, shredded scrap, scrap prices, containerized shipments, bulk vessel sales, India scrap, Sean Davidson

NEW YORK — Prices for U.S. containerized shredded scrap exported to India slipped for a second consecutive week as demand continued to drop.

Indian mill buyers cited slow production rates during the country’s imminent monsoon season and struggling finished product prices as their key reasons for lower prices this past week.

Market participants reported export sales of shredded scrap in a range of $394 to $404 per tonne c.f.r. Nhava Sheva, down between $1 and $3 per tonne from previous levels.....

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