SteelMint domestic
Ferrous Scrap index continues to move southwards as demand for the material
remains low in the Indian Scrap market.
Bhavnagar Ferrous
Scrap offers also declined by another Rs 200/MT on Tuesday due to falling
demand & HMS 80:20 was offered at Rs 25,000/MT.
Suppliers of rolling
plates Scrap have also reduced their offers in line with the lower buying
interest. Scrap of 4 ANI plate traded at Rs 25,500/MT, 6 ANI at Rs 26,200/MT
and 12 ANI at Rs 26,900/MT.
HMS (80:20) in Mandi
Gobindgarh also traded same at Rs 31,400/MT.
“Production level has
come down of semis and finished products. It has kept the demand for ferrous
scrap in check. Prices are likely to come down further for ferrous scrap”, said
a trader based in Durgapur
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