Domestic scrap prices remain unchanged on thin trade volumes 

Despite of an acute shortage of Iron ore and sponge
iron across the country, market for domestic Scrap could not pick up from the previous
week as buying activities remained weak at most of the places like Goa,
Hyderabad and Raipur where Scrap prices got corrected in the range of Rs
200-1500/MT.

However, Scrap prices at Mandi Gobindgarh moved up
sharply by Rs 850/MT from the previous week reason being Scrap becoming an attractive
allternative to cast iron which is normally used in the forge industry. A sharp
rise in prices of imported cast Iron in the past week made domestic
manufacturesr to shift to scrap

Closure of most of the sponge iron units in Bellary due to the shortage of key raw material should
have rasied the demand for for scrap & its prices in Hyderabad. But on a contrary, scrap prices in
Hyderabad fell
down sharply by Rs 1500/MT as demand from the primary manufacturer continued to
be low.