Scrap exports from UK to India falls on weak buying

Exports
of ferrous scrap have fallen due to the absence of buying activities in India
from UK.

According
to a merchant, due to the weak buying interests from Indian importers, UK
export values down from $480/MT CFR Nhava Sheva (India) to $450/MT. A week ago,
prices were said to be $460/MT CFR, but with the Hindu festival of Diwali
coming up on 26 October, business will remain lackluster”

UK
scrap export values have slipped amid quiet trade, another local trader (based
in UK), said. In late September the container market for shredded was “quite
good”, with “loads going through”, but now the focus is limited to executing
these earlier deals: there is very little fresh business, they add.

Meanwhile, a source notes that Tilbury (London)
docks have dropped its HMS 1&2 price another £10/MT, bringing it into line
with Liverpool. Tilbury is now said to be taking the grade at £225/t delivered
dockside.