Local
ferrous scrap prices continue to move up this week by Rs 500-1000/MT in places
like Mandi Gobindgarh, Jalna, Alang and Kandla. Supply also remained critical
this week in major places like Ghaziabad, Muzaffarnagar, Kanpur Durgapur,
Kolkata and Jalna.
It
is also reported that scrap exporters raise their offers by $10-15/t to Turkish
steel mills on strong Euro and improved demand.
According
to a market source, “Ferrous scrap prices are likely to correct next week in
line with UP elections getting over and availability of cheaper imported
cargoes in the domestic market. However it may rebound by the end of the
march.”
L&T
Auction, Rourkela: SG Iron Scrap at Rs 24900++ (Ex
Plant, ED & Taxes Extra)
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