SteelMint domestic
Ferrous Scrap index however moved slightly down to 94.60 points. 2 days power
cut in Mandi Gobindgarh has slowed down the trades for Scrap. But market
sources feel that prices may remain firm in the days to come.
Scrap suppliers in Bhavnagar
have hiked their offer prices by Rs 400/MT as demand has slightly moved up.
Suppliers of rolling
plates Scrap have also raised their offers by Rs 300-500/MT on improved sales.
Scrap of 4 ANI plate traded at Rs 26,000/MT, 6 ANI at Rs 26,500/MT and 12 ANI
at Rs 27,600/MT.
A 2 days power cut in
Mandi Gobindgarh has slowed the trading activities for Scrap. Thus prices have
slightly dipped down by Rs 400/MT. HMS (80:20) traded at Rs 30,100/MT.
“Local ferrous scrap demand
is likely to pick up, so prices may remain at current levels. Steel makers will
look to procure the material ahead of monsoon”, said a trader based in Kandla.
Leave a Reply