The strengthening of the U.S. scrap market and increase the cost of freight has led to reduced supplies containerizing black scrap to India. A small relief in respect of the exchange rate could not encourage enough buying activity of Indian customers, say sources. "The cost of shredded scrap delivered to India, now stands at $420-425 per tonne CFR Nhava of Sheba", said one of the exporters. According to another source, the demand in India for the material in the containers is very weak and prices are unacceptable.
MetalTorg.Ru