Steel Mint Indian Scrap Index hits this week maximum at
88.21 on Thursday 21 Feb, 2013. After that prices started falling due to “trade
union strike†across the country and index reached to 87.86 points, fall by
0.35 points (0.39 per cent) on Saturday, 23-Feb, 2013.
Indian domestic scrap market remains constant this week
with slight rise in demand in the mid of the week. Trade Union strike also
halted the scrap trade. HMS 80:20 Scrap prices across all the major cities of the
country remain at same level or down by Rs. 200/MT.
Wait and watch situation prevails in Indian scrap market
until the budget arrives on 28th Feb, 2013. Traders are
expecting some improvement in the first week of March after the declaration of
budget.
In case of scrap
imports to India, shredded scrap import offers remain at same level of $415/MT
CFR Nhava Sheva, Mumbai from European region. Same is the case with HMS 1&2
scrap imports, offers remain same as of last offers at around $400-405/MT CFR
Nhava Sheva from Gulf and US countries. However, no deals concluded this week.
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