After a long duration, the Indian domestic scrap market gets momentum due to shortage of Imported scrap and Iron ore pellet in domestic market.
The domestic scrap market is increased upto by Rs 2,400/MT W-o-W mainly in Mandi Gobindgarh, Kandla, Jalna , Mumbai and Hyderabad.
Rupee against Dollar continue to remain weak as it touches Rs 68+ per USD as a result the imported scrap market is quiet over non viability and created a shortage of scrap in the market mainly Mumbai, and North India
Similarly, the Iron ore pellet were exported from India to China and Oman as a result crunch in domestic sales facing shortage.
August '13 (till 24) Iron ore pellet was exported approx quantity of 1,00,000 MT through Paradeep port with an average price of 8,700/MT and 8,400/MT FOB.
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