SteelMint Domestic
Ferrous Scrap index fell slightly by 0.14 point on Wednesday to reach 94.25 point on lower buying
interest. Market participants expect prices to remain range bound in the days
to come.
Ferrous scrap offered at Bhavnagar went down by Rs 100/MT to reach Rs 26,200/MT on Wednesday. Meanwhile, prices for HMS (80:20) remained unchanged at most of places.
Suppliers of rolling plates scrap in
Bhavnagar also lowered their offers by Rs 100-300/MT. Scrap of 4 ANI plate
traded at Rs 26,200-300/MT, 6 ANI at Rs 26,700/MT and 12 ANI at Rs 27,800/MT.
Further, HMS (80:20) at Mandi Gobindgarh traded lower by Rs 100/MT at
Rs 29,900/MT & MS
Ingot lower by Rs 200/MT at Rs 34,100/MT++
“We are ordering Scrap on prior basis and
immediate need. There is an average demand for finished goods in the market
which also has lowered the demand for MS Ingot”, said an Ingot manufacturer based
in Mumbai
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