Highlights of the market:
* Imported scrap prices at Mumbai got
corrected by $ 10-15/MT due to heavy rainfall from past 2-3 days and a slowdown
in trading activities. And HMS Scrap was being quoted at $ 480-490/MT C&F
Nhava Sheva Mumbai.
* Whereas offer from Africa and Europe
for HMS Scrap remained at same price of 475-480/MT & 470-480/MT
respectively.
* Scrap prices in Hyderabad remained
unchanged after moving up by Rs 300/MT yesterday however the demand still remained
low. Scrap prices in Mandi Gobindgarh also remain unchanged and being offered
at Rs 26,800/MT.
Comment
By:
Importer,
Mumbai: “there is a heavy rainfall here in Mumbai from past
few days and we are not willing to build huge stocks. So we have restricted the
buying as per the requirement. . We expect the demand to remain low in the days
to come and expect the imported Scrap prices correct further.”
Trader,
Alang: “Demand seems to be good from the regions like
Rajasthan and other parts of Northern India and it has pushed up Scrap prices
in Alang. Going forward we expect Scrap prices to move up further in the range of Rs 100-300/MT.”
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