Scrap export prices to India pressured

Jul 25, 2014 | 05:43 PM | Sean Davidson

Tags  scrap, ferrous scrap, scrap prices, scrap exports, shredded scrap, Sean Davidson

NEW YORK — Prices for containerized ferrous scrap exported to India are under pressure as poor demand and currency markets sent prices lower over the past few weeks.

A seasonal decline in steel production, and consequently scrap demand, has combined with sharp drops in local prices of sponge iron and other raw materials and led to softer scrap tags, market participants said.

Buyers and exporters said volumes of containerized shredded scrap shipped to India over the past month have fallen sharply. They put prices at $385 to $395 per tonne c.f.r. Nhava Sheva this past week, down $5 to $10 per tonne from a month ago.....

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