Bhavnagar, Asia's biggest ship breaking yard and
biggest supplier of scrap across India, opened offered ferrous scrap market with
higher offers. HMS traded at Rs 27,300/MT i.e. up by Rs 200/MT from last trade
price.
Bhavnagar scrap market largely follows Mandi
Gobindgarh market for ferrous scrap. So, prices have gone up in line with the
increase in scrap prices there.
Suppliers of rolling plates scrap in
Bhavnagar have also raised their prices by Rs 200-300/MT. Scrap of 4 ANI plate
traded at Rs 27,800/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.
HMS (80:20) was also traded higher at Rs 32,300/MT
in Mandi Gobindgarh. Whereas, MS Ingot traded at Rs. 36,300/MT++
SCRAP RAIPUR:
HMS (RAIL): 28,800++
SELECTED: 27500++
END CUTTING: 28600++
“Prices are seem to be bottomed out for
ferrous scrap and unlikely to correct further. Fair demand in finished products
(which is poor at the moment) might help the buying for ferrous scrap as well”,
said a trader based in Raipur.
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