Scrap prices stay volatile, import offers up w-o-w
04 Apr 2016
Scrap prices remained volatile in the week ending April 2 on selective buying by end-users.
Prices were down by Rs 350 per ton in Mandi, Rs 150 per ton in Alang and Rs 700 per ton in Ludhiana.
However, prices were up by Rs 100-400 per ton in Jaipur and Bhilai.
India’s containerised shredded scrap import prices advanced sharply. According to sources, containerised shredded index for Indian imports rose $13 a ton to finish the week at $223 a ton CFR Nhava Sheva Port.
Increased Indian demand, coupled with rising international prices, has meant Indian buyers also had to hike their bids significantly to meet their melting requirements.
Scrap buyers have to compete for an increasingly small pool of scrap, with some scrap merchants heard to be holding on to the material in expectations of higher prices.
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 |
2-Apr-16 |
1-Apr-16 |
26-Mar-16 |
5-Oct-15 |
3-Apr-15 |
|
MANDI GOBINDGARH |
19,550 |
19,800 |
19,900 |
20,300 |
24,600 |
KOLKATA |
- |
- |
- |
- |
- |
ALANG SCRAP YARD |
16,950 |
16,750 |
17,100 |
18,200 |
21,800 |
LUDHIANA |
21,900 |
21,900 |
22,600 |
22,600 |
27,100 |
JAIPUR |
19,300 |
19,300 |
19,200 |
21,800 |
25,700 |
BHILAI |
18,000 |
18,000 |
17,600 |
18,500 |
24,000 |
MUZAFFARNAGAR |
- |
19,800 |
19,650 |
22,200 |
26,100 |
MUMBAI |
- |
16,000 |
15,500 |
18,100 |
- |
PATNA |
- |
- |
- |
- |
- |
DELHI |
- |
- |
- |
- |
- |
GHAZIABAD |
- |
20,600 |
20,000 |
- |
- |
AHMEDABAD |
- |
- |
16,800 |
- |
22,000 |
DURGAPUR |
- |
18,200 |
18,300 |
20,000 |
- |
JAMMU |
- |
- |
- |
- |
- |
KANPUR |
- |
- |
- |
- |
- |
INDORE |
- |
20,500 |
20,100 |
20,300 |
24,700 |
Source: Compilation from various sources & ISMW data