Bhavnagar, Asia's biggest ship breaking
yard and biggest supplier of scrap across India, offered ferrous scrap
prices slightly lower by Rs 200/MT at Rs 26,900/MT.
Suppliers of rolling plates scrap in
Bhavnagar have also lowered their offers by Rs 200-400/MT. Scrap of 4 ANI plate
traded at Rs 27,700/MT, 6 ANI at Rs 28,800/MT and 12 ANI at Rs 30,200/MT. These
plate scraps are useful to make 8mm to 12mm Non ISI TMT.
However, HMS (80:20) was traded at Rs 32,300/MT
in Mandi Gobindgarh i.e. down by Rs 100/Mt from previous trade. MS Ingot traded
lower at Rs 36,250-300/MT++ i.e. down by Rs 150/MT from previous trade.
According to a market source, “Prices are
likely to remain at the current level as correction in the prices is short
lived. Shortage of sponge iron has supported ferrous scrap prices to stay high.
High labor costs have also kept ferrous scrap prices high.”
Leave a Reply