Prices for shredded
ferrous scrap imported into India remain unchanged this week as few buyers
looked to acquire material in the face of a volatile US dollar to Indian rupee
exchange rate.
Shredder material in
containers is being offered at $440-445/MT CFR Nhava Sheva i.e. unchanged from
a week ago. Whereas, HMS 1&2 (80:20) is being offered around $400-420/MT Nhava
Sheva, i.e. down from $420-425 CFR a week ago.
Last week, some
tonnages of HMS 1&2 (80:20) were sold below market at $400-410/MT
However, US Ferrous
scrap export prices have begun to move higher amid expectations that the
domestic market will rise modestly in December, market participants said.
Other sources said two
or three deep-sea cargoes were sold from the East Coast in the past few days at
about $425 to $427/MT. None of the transactions were confirmed by Turkish
consumers.
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