Domestic prices of MS scrap in Indian market remains stable since last week. Indian steel manufacturers raised their offers by Rs 500-1000 per tonne earlier this month, but it did not seem to have any impact on scrap prices.
With constant supply in domestic market and stable offers for imported scrap, prices are more or less same. Last trade heard are as follows
HMS 80:20 sold at around Rs 22,700/t (Ex Mumbai)
HMS 80:20 sold at around Rs 23,500/t (Ex Chennai)
Plate and Structures cutting trades at around Rs 24,500/t (Ex Chennai)
HMS 80:20 from Dubai trades at around $405-406/t CFR Mumbai
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