“Scrap supply will remain critical in near term”- Traders

Indian scrap traders remained quite on falling rupee.Supply has been limited to Indian market said scrap traders based at Mandi Govindgarh.

Imported scrap offers to Indian market moved up on positive global ques said market participants.Shredded scrap offers raised to $470-475 compared to $465 per tonne last week.

Availability of Scrap is very limited in Indian market and will remain critical in near term till rupee stabilizes against dollar.