Domestic ferrous scrap prices continue to
fall down this week. Prices have gone down by up to Rs 1,000/MT from past 3
days on the trot. Weak buying interests from the steel manufacturers and idle
stock with suppliers have made domestic ferrous scrap cheaper in major places
like Alang, Kandla, Mumbai and Raipur.
Scrap
Bhavnagar: Bhavnagar, Asia's
biggest ship breaking yard and biggest supplier of scrap across India,
opens the ferrous scrap prices on Wednesday at Rs.26,000/MT i.e. down by Rs 300/MT
from previous trade price. Prices of plate cutting also opened down by Rs 200-400/MT.
Scrap of 4 ANI plate traded at Rs 26,400-26,500/MT,
6 ANI at Rs 27,400/MT and 12 ANI at Rs 28,600/MT. These plate scraps are useful
to make 8mm to 12mm Non ISI TMT.
HMS (80:20) was traded at Rs 31,000/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. 35100/MT++
“Buyers are unwilling to book the material
ahead of March Financial Year closure. We have the ready stock with cheaper
rates but failed to receive any orders at the moment”, said a trader based in
Raipur
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