SteelMint domestic Ferrous Scrap index stepped up marginally to 96.11
point as rise in MS Ingot prices also pushed up domestic scrap price in Mandi
Gobindgarh.
Area wise market highlights are as follows:
Ghaziabad: Scrap suppliers in Ghaziabad are facing the problem of lower
buying interest from the buyers due to liquidity crunch. Steel manufacturers
stayed out of the market due to lower fund. Labor shortage in the market also
restricted the movement of the material. HMS traded same at Rs 31,200-300/MT
from Thursday.
Bhavnagar: Ferrous Scrap offers and rolling plates Scrap prices
remain unchanged on Friday. HMS traded same at Rs 25,300/MT. Scrap of 4 ANI
plate traded at Rs 25,800/MT, 6 ANI at Rs 26,400/MT and 12 ANI at Rs 27,400/MT.
Mumbai: Sentiments in the market remain weak. Buyers are asking
for the material only on immediate need. Prices are likely to remain range
bound in the days to come.
Raipur: Not much improvement in buying activities for Scrap.
Prices are largely following Sponge Iron price movements.
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