Punjab: Prices remained steady in the range of Rs 35,600/t (Basic) at Mandi Gobindgarh, down side is limited as availability of scrap is very scarce.
“There is huge shortage of scrap in domestic market, with lesser imports over weak rupee, manufacturers are shifting to sponge and domestic scrap”. said an induction furnace owner in Punjab.
Raipur/Raigarh: Prices remained stable on limited trades, sellers are unwilling to cut offers looking at higher cost of production. Raipur is heard to be trading at Rs 32,400-500/t (Basic), where as Raigarh remain firm at Rs 32300-400/t (Basic).
Hyderabad: Demand is poor, sellers are quoting in range of Rs 33,000-500 (Basic) but trades are happening at Rs 33,000/t (Basic). Sponge prices are high.” said a manufacturer.
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