“Domestic ferrous scrap prices have Increased in Bhavnagar on improved demand for TMT”, said a trader based in Bhavnagar.
Bhavnagar which is Asia's biggest ship breaking yard and biggest supplier of scrap across India, opened the ferrous scrap trade at Rs.26500/MT i.e. Up by Rs 100/MT from previous trade price. However, prices of plate cutting were unchanged.
Scrap of 4 ANI plate traded at Rs 26,800/MT, 6 ANI at Rs 27,800/MT and 8 ANI at Rs 28,300-400/MT. These plate scraps are useful to make 8mm to 12mm Non ISI TMT.
HMS (80:20) was traded at Rs 31,400/MT in Mandi Gobindgarh, i.e. unchanged from previous trade price. MS Ingot was trading at Rs. 36,000-100/MT++
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