Indian domestic Ferrous scrap prices plunged by INR 300-900/MT W-o-W and highest price fall is recorded in North & West India. Similarly, in global market offers plunge down by USD 10-15/MT, W-o-W.
HMS (80:20) scrap prices are currently at INR 18,000-18,800/MT (USD 265-278) in Western India, INR 14,500-16,500/MT (USD 213-244) South India & INR 17,500-18,000/MT (USD 258-265 ) in North India. Whereas, same grade imported scrap offers are at USD 240-245/MT CNF India (West & South coast).
Chennai based scrap supplier, stated “falling sponge & billet prices are declining domestic scrap prices.” He also added, “Global sentiments is the major factor of plunging”
In a week duration Indian sponge & billet prices fall by INR 800-1,500/MT (USD 12-22/MT).
Indian Scrap (HMS 80:20) Offers as on 31 Jan’16
| Region | Particulars | Size/Grade | Prices | W-o-W |
| North India | Ex-Mandi Gobindgarh | End Cutting | 21,000 | -800 |
| HMS(80:20) | 17,800 | -700 | ||
| East India | Ex-Durgapur | HMS(80:20) | 17,800 | -300 |
| Central India | Ex-Raipur | End Cutting | 20,500 | 0 |
| HMS(80:20) | 19,500 | 0 | ||
| West India | Ex-Ahmedabad | HMS(80:20) | 18,500 | -900 |
| Ex-Alang | HMS(80:20) | 18,000 | -900 | |
| Ex-Mumbai | HMS(80:20) | 18,500 | 300 | |
| South India | Ex-Chennai | HMS(80:20) | 16,500 | -250 |
| Ex-Hyderabad | HMS(80:20) | 14,600 | -400 | |
| Global | CNF India | HMS-1, Middle East | 255 | -5 |
| HMS-1&2, Middle East | 250 | -5 | ||
| HMS-1&2, S.Africa | 240 | -13 | ||
| Shredded, US | 270 | -10 |
Prices in INR/MT
Source: SteelMint Research
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