Intel Details

India: CRC scrap prices fall further by INR 300-400/t

Melting Scrap
23 Aug 2021, 18:52 IST
Steel Mint Intel

CRC scrap prices witnessed a correction of INR 200-400/t in north and west India, while offers in the south remained rangebound on 23 Aug'21. Limited transactions in finished steel and prices narrowing down have restricted scrap buying.

  • Traders anticipate that scrap prices are not likely to fall in sync with sponge iron or semi-finished steel prices due to the narrow conversion gap from scrap to semis (ingot/billet) unlike sponge iron.
  • Prevailing CRC sheet cutting scrap offers are assessed at INR 39,700-40,100/t in Mandi Gobindhgarh. Prices are at INR 36,900-37,200/t in Chennai. Prices in Jalna are assessed at INR 37,400-37,700/t, although turning scrap offers were reported at INR 32,600-33,000/t on DAP basis, excluding GST.

23 Aug 2021, 18:52 IST
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