Indian domestic ferrous scrap prices dropped Thursday on weak demand for finished steel. In Jalna, the bi-weekly index for HMS 1&2 (80:20) dropped by Rs700/mt to Rs20,800/mt del mills and the index for sponge iron rose by Rs25/mt to Rs18,125/mt del mills. 

 

In Mandi Gobindgarh, the daily Davis Index for HMS 1&2 (80:20) dropped by Rs 150/mt to Rs21,100/mt del mills. The daily index for sponge iron declined by Rs75/mt to Rs20,075/mt del mills. 

 

In Chennai, the bi-weekly index for HMS 1&2 (80:20) declined by Rs275/mt to Rs20,750/mt del mills and the index for sponge iron dropped by Rs100/mt to Rs16,500/mt del mills.

 

In Ahmedabad, the index for HMS 1&2 (80:20) dropped by Rs500/mt to Rs22,500/mt del mills and the index for sponge iron declined by Rs500/mt to Rs18,000/mt del mills on slow demand from local market as COVID-19 cases spiked in the region. 

 

In Mumbai, markets reported thin trades. The daily index for HMS 1&2 (80:20) fell by Rs100/mt to Rs21,050/mt del mills and the index for sponge iron remained unchanged at Rs16,900/mt del mills.

 

In Goa, the index for HMS 1&2 (80:20) rose by Rs300/mt to Rs 21,500/mt, del mills and the index for sponge iron declined by Rs100/mt Rs16,500/mt del mills. A few trades were heard at the index prices.

 

($1= Rs75.75)

 

 

 

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