SteelMint Indian Scrap
Index has slightly inched up by 0.20 percent on Thursday and reaches 89.72
points.
Indian ferrous scrap
prices remain stable in past few days. Buying interests for the materials also
remain subdued on the back of lower trades in semi finished and finished goods.
However, offers have moved up in few places like Chennai, Mandi Gobindgarh and
Alang
Trading activities in
the market remain dull due to festivities in the past few days. Buyers are
likely to enter the market with healthy, as one market source commented.
Bhavnagar ship recycling offers moved up sharply
Further, offers for
ship recycling scrap in Bhavnagar open at higher side. HMS traded at Rs 24,700/MT
(Basic Price, ED & Taxes extra), up by Rs 200/MT from previous trade.
Plate cutting scrap
prices in Bhavnagar also traded higher by Rs 200-600/MT in Bhavnagar with improved
demand after one week long dull market due to strike and festivities. Scrap of
4 ANI plate traded at Rs 26,700/MT, 6 ANI at Rs 27,400/MT and 12 ANI at Rs 28,700/MT.
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