SteelMint
domestic Ferrous Scrap index remains unchanged on Thursday at 94.04 point. However,
it fell by 0.35 point on Wednesday as suppliers in Mandi Gobindgarh have
reduced their offers for the material.
Poor demand for finished goods and lower
Ingot production has made Scrap buyers stay out of the market. They are unwilling
to take fresh positions in the market.
Scrap suppliers in Bhavnagar also offered
ferrous scrap lower by Rs 300/MT at Rs 25,900/MT on Thursday. Rolling plates scrap in
Bhavnagar also traded lower by Rs 200-400/MT. Scrap of 4 ANI plate
traded at Rs 26,000-300/MT, 6 ANI at Rs 26,400/MT and 12 ANI at Rs 27,600/MT.
Further, HMS (80:20) traded lower at
Rs 29,600/MT in Mandi Gobindgarh i.e. down by Rs 100/MT from previous trade.
“Buyers of Ferrous Scrap are still out of the
market despite of the recent correction in Scrap prices. They are booking material
only on immediate requirement basis”, said a trader based in Kolkata.
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