Domestic
ferrous scrap prices showed a mixed trend this week as prices moved by Rs
500-1000/MT. Buyers in the domestic market held their purchases over the
uncertainties prevailing in the scrap market owing to volatile Rupee.
Availability
of cheaper scrap imports built a pressure on domestic suppliers and buyers were
hesitant to book bulk orders in anticipation of further price correction.
“Ferrous
scrap market is unpredictable at the moment given by the volatility in Rupee. Demand
for the product could also be scaled from moderate to low. Prices are likely to
fluctuate in the range of Rs 200-300/MT in the coming weeks”, said a trader
based in Raipur.
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