Scrap offers extended losses in the week ended June 18 amid poor demand, market sources said.
Prices dropped in Ludhiana, Jaipur, Bhilai, Muzaffarnagar, among others.
Melting scrap prices were down by Rs 200 per ton in Mandi.
According to sources, India’s containerised shredded scrap import prices stayed stable at $270 per ton CFR Nhava Sheva.
Indian traders have remained absent from buying containers of shredded scrap from dealers on the US East coast as they remain hopeful of a price decline. With European and US prices beginning to display bearish sentiment, imports into India may again resume in the coming months.
Prices of scrap in various markets during the past six months (Rs/ton)
PRODUCT |
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 |
Weekly changes |
18-Jun-16 |
17-Jun-16 |
11-Jun-16 |
19-May-16 |
21-Dec-15 |
|||
SCRAP |
MANDI GOBINDGARH |
17,900 |
17,700 |
17,900 |
18,800 |
17,000 |
⇔ |
SCRAP |
ALANG SCRAP YARD |
15,600 |
15,350 |
15,550 |
16,500 |
16,300 |
▲ |
SCRAP |
LUDHIANA |
20,200 |
20,000 |
20,500 |
21,200 |
19,100 |
▼ |
SCRAP |
JAIPUR |
17,900 |
17,800 |
18,400 |
18,700 |
18,300 |
▼ |
SCRAP |
BHILAI |
16,500 |
16,300 |
16,700 |
16,900 |
16,000 |
▼ |
SCRAP |
MUZAFFARNAGAR |
18,300 |
- |
18,700 |
- |
18,500 |
▼ |
SCRAP |
MUMBAI |
16,200 |
- |
16,100 |
- |
16,500 |
▲ |
SCRAP |
DURGAPUR |
16,800 |
- |
17,200 |
- |
- |
▼ |
SCRAP |
KANPUR |
17,600 |
- |
18,400 |
- |
17,800 |
▼ |
SCRAP |
INDORE |
18,700 |
- |
18,900 |
- |
18,600 |
▼ |
MELTING SCRAP |
MANDI GOBINDGARH |
19,800 |
- |
20,000 |
20,700 |
- |
▼ |
Source: Compilation from various sources & ISMW data