Scrap prices staged a decline in the week ended April 9 on selective buying by end-users.
Prices were down by Rs 750 per ton in Mandi, Rs 50 per ton in Alang and Rs 500 per ton in Ludhiana. Also, melting scrap prices dropped by Rs 700 per ton in Mandi.
After a sharp increase in the preceding week, India’s containerised shredded scrap import prices remained unchanged at $223 a ton CFR Nhava Sheva during the week ended April 9.
Earlier, some scrap merchants were heard to be holding on to material in expectations of higher prices to come.
Prices of scrap in various markets during the past one year (Rs/ton)
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 |
9-Apr-16 |
8-Apr-16 |
2-Apr-16 |
12-Oct-15 |
10-Apr-15 |
|
MANDI GOBINDGARH |
18,800 |
19,100 |
19,550 |
19,800 |
25,000 |
ALANG SCRAP YARD |
16,900 |
- |
16,950 |
18,200 |
23,100 |
LUDHIANA |
21,400 |
21,600 |
21,900 |
22,200 |
27,100 |
JAIPUR |
19,100 |
19,100 |
19,300 |
21,000 |
26,300 |
BHILAI |
18,000 |
18,000 |
18,000 |
18,500 |
24,000 |
MUZAFFARNAGAR |
19,600 |
- |
- |
22,200 |
26,000 |
MUMBAI |
16,300 |
- |
- |
18,100 |
- |
GHAZIABAD |
20,000 |
- |
- |
- |
- |
DURGAPUR |
18,000 |
- |
- |
20,000 |
- |
KANPUR |
19,000 |
- |
- |
- |
- |
MANDI GOBINDGARH (Melting Scrap) |
20,900 |
20,900 |
21,600 |
- |
- |
Source: Compilation from various sources & ISMW data