Friday, October 15,
Scrap prices in the International market are edging down since September. CFR Turkey Scrap prices fell on Tuesday to $357-377/MT. Prices in Europe and US also went down by $20/MT in past two weeks due to poor demand from real estate and auto market.
Also, prices lacked momentum in China as demand for steel remained low. However, traders believe that prices might go up in Nov-Dec as shortage of scrap is generally felt in market during winters due to slowing down of its collection.
Indian scrap also shown a downward trend all across India, Scrap at Alang , the largest scrap market in India has corrected by Rs 500-600/Mt in last week looking at sluggish demand from Mandi Govindgarh and Gaziabad
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