SteelMint Indian Scrap
Index stays unchanged on Tuesday at 90.56 points. Scrap suppliers have kept the prices unchanged despite of dull trading activities.
Indian ferrous scrap
prices remain stable from last week in Indian markets. No offers are being
circulated among the traders in Punjab state (especially Mandi Gobindgarh and
Ludhiana) due to newly launched e-Bill system for scrap trading.
Scrap traders in Mandi
Gobindgarh are still on strike on the new e-Bill system for scrap trading and halt
their trades.
“Steel manufacturers
are still in confusion that what prices they should quote for transactions.
Small mills are not ready to accept the new system as they are unwilling to
purchase the material at higher prices”, said an official of Ludhiana Sponge
Iron Association.
“Ferrous Scrap material is being traded
on immediate need only with no specific offer prices”, he added further.
Meanwhile, offers for HMS
scrap from ship breaking remain unchanged on Tuesday, traded at Rs 24,300/MT. Offers
for rolling plates Plate cutting scrap have also remain unchanged. Scrap of 4
ANI plate traded at Rs 24,400/MT, 6 ANI at Rs 25,500/MT and 12 ANI at Rs 26,700/MT.
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