SteelMint Indian Scrap
Index has declined by 0.68 percent (0.60 points) this week and reached to 88.21
points on Saturday. Indian scrap market remains dull on slower trades due to
festivities.
Bhavnagar,
Asia's biggest ship breaking yard and biggest supplier of scrap across India, opens
the HMS scrap offer price on Saturday at Rs 23,700/MT (Basic price, ED &
Vat extra), up by Rs 100/MT from previous trade price.
However,
Suppliers of rolling plates scrap in Bhavnagar have decreased their prices
marginally by Rs 100-200/MT. Scrap of 4 ANI (6-8 mm thick) plate traded lower at
Rs 24,600/MT, 6 ANI (9-11 mm thick) at Rs 25,600/MT and 12 ANI (19-22 mm thick)
at Rs 26,800/MT.
According
to the sources, market will gear up from the next week with improved demand.
Transactions are slow owing to the lower buying interest due to festival
aftermath.
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