SteelMint domestic
Ferrous Scrap index reaches its 3 month low mark to 93.82 points on the back of
lower buying interest.
Offers for domestic
ferrous scrap dropped by up to Rs 500/MT in major places like Mandi Gobindgarh
and Mumbai.
“There are no buyers in
the market due to sluggish demand for steel products. But scrap prices
might sustain at current level”, said a steel manufacturer in Mumbai.
Meanwhile, suppliers
of rolling plates Scrap in Bhavnagar have made no major changes in offers this
week. HMS traded at Rs 25,600/MT i.e. down marginally by Rs 100/MT. Scrap of 4
ANI plate traded at Rs 25,800/MT, 6 ANI at Rs 26,300/MT and 12 ANI at Rs 27,200/MT.
HMS (80:20) offers in in
Mandi Gobindgarh have also remain unchanged from last week's trade price at Rs
30,300/MT. However, it is down by Rs 100/MT from previous trade.
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