Bhavnagar, Asia's biggest ship breaking
yard and biggest supplier of scrap across India, offered ferrous scrap
prices slightly higher at Rs 27,400/MT i.e. up by Rs 200/MT from previous trade
price.
Suppliers of rolling plates scrap in
Bhavnagar have also raised their offers by Rs 100-200/MT on slightly improved
demand. Scrap of 4 ANI plate traded at Rs 27,900/MT, 6 ANI at Rs 28,900/MT and
12 ANI at Rs 30,400/MT. These plate scraps are useful to make 8mm to 12mm Non
ISI TMT.
However, HMS (80:20) was traded same at Rs
32,300/MT in Mandi Gobindgarh. MS Ingot traded at Rs 36,400/MT++
According to a trader based in Mumbai, “Ferrous
Scrap prices are likely to remain high on improved demand in the days to come.
Construction activities have started increasing which will support the Ingot
manufacturers to raise their production and demand for scrap.”
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