Ship breaking HMS scrap prices was opened at a lower side in Bhavnagar. Scrap prices went down by Rs 400-500/MT. It was at Rs 24,000/MT on Saturday, 15th June, 2013 which is at Rs 23,500-600/MT on 17th June, 2013 (including Basic Price, ED & Taxes extra).
Rolling plate cutting scrap suppliers have also reduced their offers by around Rs 200-400/MT on thin buying interest. Scrap of 4 ANI plate was traded at Rs 24,500/MT, 6 ANI at Rs 25,500/MT and 12 ANI at Rs 26,600/MT. Thus, overall scrap prices went down by Rs 800-1,000/MT in last 2-3 days.
In line, scrap prices in Kandla went down by Rs 200-300/MT and was offered at Rs 23,100/MT. A well known trader based at Kandla said, “Demand is not as we had expected. We were expecting that the demand for scrap will increase during monsoon, but low demand for finished steel pushed back the scrap prices. If market holds the same pattern, prices will reduce by around 500-800/MT in upcoming days. Prices of billet also went down by Rs 500/MT because of the same reason”.
All Basic prices.
Leave a Reply