Sponge iron crimp spurs Indian scrap tags
Aug 22, 2014 | 04:36 PM
| Sean Davidson
NEW YORK Tight sponge iron supply in India helped lift some ferrous scrap prices this past week as large producers continued to book supply, although smaller operators remained absent from the marketplace.
Exporters to the handful of consumers that secured scrap reported price increases for heavy melt and turnings, while shredded exports remained range-bound.
Market participants said containerized shipments of No. 1 heavy melt traded in a range of $365 to $375 per tonne c.f.r. Nhava Sheva, while turnings reportedly were between $340 and $345 per tonne c.f.r. Nhava Sheva, both up $5 from a week earlier.....
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