Exporters and importers said the situation is likely to
continue for at least another week, with buyers seemingly
uninterested in chasing scrap amid a weak product environment.
A softening Indian rupee and a seasonal drop in steel
production rates and finished product demand has sent Indian
domestic steel prices down, leading Indian buyers to bid
$380-390 per tonne cfr Nhava Sheva for shredded scrap imports,
market participants said. Meanwhile, US and European exporters
refused to lower offer prices from $400-405...