SteelMint domestic
Ferrous Scrap steps down slightly by 0.10 points to reach 91.51 points on Wednesday
with sluggish trading activities in the market.
Indian ferrous scrap
prices dropped by up to Rs 300/MT on lower buying interest from the steel
manufacturers. However, market participant commented that prices are likely to
remain range bound in the coming days.
Meanwhile, HMS scrap
suppliers in Bhavnagar have made no major changes in their offers. HMS traded same
at Rs 25,500/MT. Suppliers of rolling plates Plate cutting scrap offers also
remain unchanged. Scrap of 4 ANI plate traded at Rs 25,500/MT, 6 ANI at Rs 26,600/MT
and 12 ANI at Rs 27,700/MT.
“Manufacturers are
ready to procure the material only on immediate need. They are in no hurry at
the moment. Prices should remain at the current levels in the coming weeks”,
said a trader based in Raipur.
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