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Coal news and updates

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