Ferrous Scrap market in Bhavnagar open with higher
offers from suppliers. Prices move up by Rs 200/MT in scrap, while in plate
cutting scrap, it goes up by upto Rs 400/MT on Saturday.
Bhavnagar, Asia's biggest ship breaking
yard and biggest supplier of scrap across India, offered ferrous scrap
prices higher at Rs 27,200/MT i.e. up by Rs 200/MT from previous trade price.
Suppliers of rolling plates scrap in
Bhavnagar have raised their prices by Rs 200-400/MT. Scrap of 4 ANI plate
traded at Rs 27,800/MT, 6 ANI at Rs 28,800/MT and 12 ANI at Rs 30,000/MT. These
plate scraps are useful to make 8mm to 12mm Non ISI TMT.
HMS (80:20) was also traded higher at Rs 32,200/MT
in Mandi Gobindgarh i.e. also up by Rs 200/MT from previous trade price. MS
Ingot prices remain unchanged at Rs. 36,500/MT++
“Rise in Excise duty and labor cost might
support domestic ferrous scrap prices in the weeks to come. So, prices are
unlikely to correct”, said a trader based in Bhavnagar.
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