Offers for domestic ferrous scrap prices
remain almost unchanged from the beginning of this week. However, Scrap prices
in Bhavnagar open with slightly lower offers from suppliers. Prices corrected marginally
by Rs 100-200/MT on Monday.
Bhavnagar, Asia's biggest ship breaking
yard and biggest supplier of scrap across India, offered ferrous scrap
prices at Rs 27,100/MT i.e. down by Rs 100/MT from last week's previous trade
price.
Suppliers of rolling plates scrap in
Bhavnagar have also kept their prices unchanged from last week. Scrap of 4 ANI
plate traded at Rs 27,600/MT, 6 ANI at Rs 28,700/MT and 12 ANI at Rs 30,000/MT.
These plate scraps are useful to make 8mm to 12mm Non ISI TMT.
HMS (80:20) was traded at Rs 32,200/MT in
Mandi Gobindgarh. Whereas, MS Ingot traded lower at Rs. 36,400/MT++
“Correction in ferrous scrap prices is
marginal and short-lived. Prices are likely to remain firm in the days to come
with fair demand of the material”, said a trader based in Bhavnagar.
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