SteelMint domestic
Ferrous Scrap index however inched up by 0.18% on Saturday as market sources
expect that prices have bottomed out.
HMS scrap in Bhavnagar
traded higher at Rs 25,000/MT i.e. up by Rs 200/MT from last trades. Suppliers
of rolling plates Scrap in Bhavnagar have also raised their offers by Rs 100-300/MT.
Scrap of 4 ANI plate traded at Rs 25,200/MT, 6 ANI at Rs 25,900/MT and 12 ANI
at Rs 26,800/MT.
In addition, HMS
(80:20) in Mandi Gobindgarh also traded higher at Rs 29,900-30,000/MT i.e. up
by Rs 200-300/MT from previous trade price.
“Lower production of
semis and finished products have kept the demand for scrap in check. But
suppliers are unwilling to correct the prices further. Prices
might sustain at the current levels”, said a trader based in Chennai.
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