Ferrous
scrap sales in the market have slowed down owing to the lower buying interest
in Re bar market. Buyers are out of the finished as well as semi finished market
due to high prices. It has also affected the scrap demand.
However,
prices continue to move up in line with the rising Ingot and Re bar prices
despite any healthy improvement in demand.
HMS
(80:20) is being offered at Rs 25,500/MT Ex mills Mumbai (including all taxes)
and HMS 1 at Rs 26,000/MT (including all taxes), up by Rs 300/MT from the
levels seen in last week. However, in the southern region of the country, HMS
scrap offers are hovering at Rs 23,000/MT Ex mills (Basic prices, ED & VAT
extra), same as last week’s trade prices.
Meanwhile,
ship recycling scrap offers have also moved up by Rs 200-500/MT from last week.
HMS traded at Rs 23,400/MT. Scrap of 4 ANI plate traded at Rs 25,000/MT, 6 ANI
at Rs 25,700/MT and 12 ANI at Rs 26,900/MT.
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