SteelMint domestic
Ferrous Scrap Index reaches all time low to 88.46 points on Tuesday, down sharply
by 1.05 percent.
Indian ferrous scrap
prices reach 8-10 months low on falling steel demand and seasonal slowdown in
the market. Poor trades in semi finished and finished material have pulled the
scrap prices down to the levels seen in 8-10 months ago.
Further, HMS scrap
from ship breaking traded lower at Rs 24,100/MT in Bhavnagar i.e. down by Rs
200/MT.
Suppliers of rolling
plates Plate cutting scrap have also reduced their offers by Rs 200-300/MT. Scrap
of 4 ANI plate traded at Rs 24,300/MT, 6 ANI at Rs 25,500/MT and 12 ANI at Rs 26,700/MT
on Tuesday.
Offers for HMS (80:20) in Mandi Gobindgarh opened
at Rs 28,000/MT on Tuesday, down by Rs 500/MT from last day's trade price.
However, prices inched up by Rs 300/MT during the day. MS Ingot traded at Rs
33,000-100/MT in Mandi Gobindgarh, down by Rs 200/MT from previous day.
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