SteelMint domestic
Ferrous Scrap index moves slightly down to 96.91 point on lower buying
interest.
Meanwhile, Bhavnagar
Ferrous Scrap offers remain unchanged at Rs 25,500/MT. Brokers in Bhavnagar go
for strike on account of higher brokerage on Scrap sales.
It is reported that
currently they (Brokers) get Rs 40/MT brokerage on Scrap. But, now they are
asking it to rise by another Rs 30/MT to make it Rs 70/MT. Thus, those buyers are facing some
difficulties who order the material through such agents. Suppliers have no
choice but to supply the material directly to the buyers and mills.
Rolling plates Scrap
prices also remain unchanged. Scrap of 4 ANI plate traded at Rs 26,300/MT, 6
ANI at Rs 27,000/MT and 12 ANI at Rs 28,100/MT.
HMS (80:20) in Mandi
Gobindgarh also traded same at Rs 31,400/MT.
According to a ship
breaker, “Brokers are asking for much higher commission which is not feasible
on the current market situation. We hope to get the matters clear very soon and
settle the brokerage at Rs 50/MT.”
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