SteelMint Indian Scrap Index has slightly gone up to reach 88.04 points from previous 87.82, as domestic heavy scrap prices trade are up over improved finish demand. Whereas imported scrap suppliers have reduced price by $5-8/t to improve the booking.
Bhavnagar shipbreaking HMS scrap prices open at Rs 23500/t. Prices are up by Rs300/MT w-o-w, as the domestic finish demand improves. Rolling plate cutting scrap offers are also stable as scrap of 4 ANI plate traded at Rs 23,700/MT, 6 ANI at Rs 24,700/MT and 12 ANI at Rs 26300/MT.
Prices are fluctuating in the range of Rs 200-500/MT these days for ship breaking scrap. It is expected to hold the same pattern in the coming days as well”, said a trader based in Alang.
HMS (80:20) scrap offers at Mumbai stands at Rs 22700/t (Basic prices), Chennai at Rs 23500/t (Basic Prices). Imported HMS scrap offer from Africa region are quoting at $405 CFR Mumbai with Qty. 1,45,000 tonnes shipped in March’13 that is high by 10,000 tonnes from previous month.
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