It is reported that
prices for ferrous scrap exported from the UK dropped this week as demand for the
material reduced. Export
prices for shredded material reach US$ 385-400/MT (Ex Yard) this week i.e. down
by 10-15/MT from a week ago.
According to a market participant, “Interest
for HMS 1&2 (80:20) from UK suppliers has been weak this week. Prices were
being assessed below US$ 480/MT (Ex Yard)”
In addition, imported Ferrous Scrap market in
India continues to remain weak. Importers stay out of the market and not
willing to take any further steps to book bulk orders. However, offers for HMS
1&2 & Shredded Scrap declined by upto US$ 15-20/MT CFR this week
Rupee in currency market reaches as low as 54.47/USD.
It continues to hurt Indian buyers for Ferrous Scrap in global market and
restricted them to take fresh positions in the market.
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