Structure Prices in Mumbai is reduced by Rs 200/MT on fallen Scrap price. Yesterday scrap (Mix) prices fell by Rs 200/MT and was offered at Rs 22,000/MT (Basic). A well known scrap trader based at Mumbai says “buying volume dropped for local material as well as buyers are not showing interest on imported scrap due to high prices”. A structure manufacturer from Mumbai says, “Earlier we have sold structure at around 100-150MT per day. Prices were stable earlier because of the firm cost of scrap and ingot, after the fall in price of scrap, structure manufactures have cut their offers straight away”.
Offers after reduced by Rs 200/MT: Angle 40×6 @ 34,000/MT, 25×3 @ 36,400/MT, Channel 75 and 100 @ 34,800/MT, Beam 125 @ 35,200/MT.
All prices are basic.
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