An extension of the previous week’s soft trend was witnessed in scrap prices during the week ending January 30.
Continued increased availability of the imported material at a competitive price and not- so-encouraging demand is affecting realisations in a market where nothing positive is emerging from any quarters as far as steel-makers are concerned. Imported scrap HMS (80:20) offers ruled at $190 per ton, while the shredded scrap quoted at $205 per ton.
Lower availability of funds with stockists due to low liquidity and a tendency among buyers to buy on credit as they too are facing funding issues are affecting the sentiment, market sources said.
Earlier, the markets opened on a firm note with prices remaining unchanged over their previous week’s level. The firmness continued till Thursday, but the situation changed for the worse during the last two days of the week.
During the last two days of the week, the decline in prices in various markets ranged between Rs 300 and Rs 700 per ton on the back of about Rs 200-300 per ton decline witnessed during the previous week.
Following table gives indicative prices of scrap in various markets during the past one year:
NAME OF THE MARKET |
Price Rs./Ton as on |
Price Rs./Ton as on |
Price Rs./Ton as on |
Price Rs./Ton as on |
Price Rs./Ton as on |
30-Jan-16 |
29-Jan-16 |
23-Jan-16 |
12-Jul-15 |
31-Jan-15 |
|
MANDI GOBINDGARH |
17,300 |
17,600 |
18,000 |
22,500 |
25,200 |
ALANG SCRAP YARD |
- |
- |
16,000 |
18,600 |
- |
LUDHIANA |
19,300 |
19,600 |
20,000 |
24,900 |
27,100 |
JAIPUR |
17,900 |
18,300 |
18,500 |
22,800 |
25,400 |
BHILAI |
16,000 |
16,400 |
16,700 |
21,300 |
24,300 |
MUZAFFARNAGAR |
18,300 |
- |
18,600 |
- |
26,100 |
MUMBAI |
- |
- |
- |
21,750 |
22,900 |
AHMEDABAD |
- |
- |
15,800 |
18,900 |
- |
KANPUR |
17,700 |
- |
18,300 |
22,300 |
- |
INDORE |
17,800 |
- |
18,300 |
- |
- |
MANDI GOBINDGARH (Melting Scrap) |
19,300 |
19,800 |
20,000 |
- |
- |
Source: Traders