Domestic ferrous scrap prices continue to decline
due to weak buying interests from the steel manufacturers. Prices corrected by
Rs 100-400/MT in major places like Alang, Kandla, Hyderabad and Mandi
Gobindgarh.
Bhavnagar, Asia's biggest ship breaking
yard and biggest supplier of scrap across India, opens the ferrous scrap
prices lower at Rs 27,000/MT i.e. down by Rs 400/MT from previous trade price.
Plate cutting scrap also traded lower by Rs 300-400/MT on Friday.
Suppliers of rolling plates scrap in
Bhavnagar have corrected their prices by Rs 300-400/MT. Scrap of 4 ANI plate
traded at Rs 27,400/MT, 6 ANI at Rs 28,600/MT and 12 ANI at Rs 29,900/MT. These
plate scraps are useful to make 8mm to 12mm Non ISI TMT.
HMS (80:20) was traded at Rs 32,000/MT in
Mandi Gobindgarh i.e. down by Rs 200/MT from previous trade price. MS Ingot
also traded lower at Rs. 36,300/MT++
“Lower buying interests from the Ingot manufacturers have prompted us to reduce the prices. Correction
in MS Ingot and Sponge iron prices have also lent support the scrap prices
to come down”, said a trader based in Raipur.
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