Domestic ferrous scrap prices have decreased
on Saturday in major places like Alang, Kandla and Mandi Gobindgarh. Buying
interests could be scaled from low to moderate.
Bhavnagar, Asia's biggest ship breaking
yard and biggest supplier of scrap across India, opens the ferrous scrap
prices at Rs.26400/MT i.e. down by Rs 100/MT from yesterday's trade price.
Prices of plate cutting also opened down by Rs.100/MT.
Scrap of 4 ANI plate traded at Rs 26,800/MT,
6 ANI at Rs 27,800/MT and 12 ANI at Rs 29,000/MT. These plate scraps are useful
to make 8mm to 12mm Non ISI TMT.
HMS (80:20) was traded at Rs 31,300/MT in Mandi
Gobindgarh i.e. down marginally by Rs 100/MT from previous trade due to weak
buying interests. MS Ingot also traded lower to Rs. 35700/MT++
“We learned that Chennai remained the
cheapest market for ferrous scrap as steel manufacturers are unwilling to
purchase material. Plants are running with lower capacities due to power cut
issues. It has lowered the demand for scrap”, a market source based in Chennai comments.
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