In session II of Indian Ferrous Scrap & Mill Scale Trade Meet, Sabari Group’s MD, Shashi Kumar has quoted his views representing the current clearances issues for the Indian Steel Industry.
Mr. Sashi stated, “There are many issues related to logistic clearances in Steel Industry. Now, let’s hope for a better 2015.”
While, Director of Gemini Corporation NV, Steel Division, Ved Prakash addressed on international Scrap.
Mr. Prakash shared, “Turkey investing on BOF to reduce Scrap consumption. There’s no correlation between Indian & Turkish prices. In 2012-2014, Scrap prices have remained moreover stable. While, current prices are similar to 2010 level.”
What we look: Prices are declining
What we overlook: Prices of about 20 commodities have slumped to 4-year low. World is entering to an era of low price levels. Also, International Scrap has remained stable. More variation, smaller the market will look like.
Conclusion
Scrap will remain a darling.
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