SteelMint Indian Scrap
Index has declined by 0.39 percent on Friday to reach 89.47 points.
There no sharp
movement has been seen in the Indian ferrous scrap market this week. No major
deals have been heard closed this week as well. Low demand in the semi finished and
finished goods sector have kept the market stable for scrap.
However, scrap offers in
Maharashtra (India) region fall marginally by Rs 200-300/MT this week.
Ship breaking Scrap
offers in Bhavnagar have also shown a mere correction of Rs 300/MT this week
with few small tonnages. HMS traded at Rs 23,700/MT (Basic
Price, ED & Taxes extra), down by Rs 300/MT from previous trades.
Meanwhile, rolling
plate cutting scrap suppliers have also reduced their offers by 200-300/MT for
all grades. Currently, scrap of 4 ANI plates is being traded at Rs
24,600/MT, 6 ANI at Rs 25,600/MT and 12 ANI at Rs 27,000/MT.
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