Low availability of Ships and falling profit margin has pushed the plate cutting prices up, in Bhavnagar.
Scrap prices in Bhavnagar have registered quick improvement in prices. In a week’s time prices moved up by INR 1,250/MT. Low availability of Ships resulted in shortage of Plate cutting as well melting Scrap.
Ships availability fell to almost 50%. High cost of ships and increased labor wages has reduced profit margin. During a conversation a well known trader from Bhavnagar says, “Plate cutting is available in limited quantity these days. Prices hiked by INR 1,000-1,200/MT for plate cutting. That might continue in coming, days, in fact we expect INR 1,000/MT more improvement till December ends.”
Today 6Ane offers at INR 26,600/MT, 8Ane at INR 26,900-27,000/MT and 12Ane at INR 27,300/MT.
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