INDIA: Bhavnagar Ship cutting Scrap offers move up sharply by Rs 300-400/MT

Indian ferrous scrap offers moved up by up to Rs 400/MT on improved demand for the material.

Bhavnagar: HMS scrap from ship breaking traded slightly higher at Rs 24,800/MT i.e. up by Rs 400/MT from previous trade. Offers for rolling plates Plate cutting scrap have also moved up by up to Rs 300-400/MT. Scrap of 4 ANI plate traded at Rs 25,200/MT, 6 ANI at Rs 25,900/MT and 12 ANI at Rs 26,900/MT.

HMS (80:20) scrap offers at Mumbai stands at Rs 22,200/MT (Basic prices), Chennai at Rs 22,800/t (Basic Prices).