SteelMint domestic
Ferrous Scrap index continues to move southward on thin trading volumes of scrap and reaches as
low as to 92.98 points.
Indian ferrous scrap
prices fall again due to lower buying interest on account of seasonal slowdown.
Prices went down by up to Rs 500/MT from last week.
Further, offers for
HMS scrap in Bhavnagar remain unchanged from last week at Rs 25,200-300/MT. Suppliers
of rolling plates Scrap in Bhavnagar have made no major changes in their offers
from last week. Scrap of 4 ANI plate traded at Rs 25,300/MT, 6 ANI at Rs 26,000/MT
and 12 ANI at Rs 26,900/MT.
HMS (80:20) offered at
Rs 30,100/MT in Mandi Gobindgarh i.e. down by Rs 100/MT from previous trade.
“Market is so unpredictable at the moment so
as prices. But we expect it to stabilize in the coming weeks. Local scrap
prices are cheaper by Rs 1,000-1,500/MT over imported one, but lower demand is
prompting us to reduce the prices further”, commented a trader based in Jalna.
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