METALS – Copper wire bars (HCL*), Aluminum ingots, Zinc slab, Lead ingot, Tin, Nickel , Cathode

SCRAP – Copper cable scrap, Copper heavy scrap, Copper armeture, Copper utensil scrap, Copper sheet cutting, Brass utensil scrap, Brass sheet cuttings, Aluminum utensil scrap

Pricing can be found at the Reuters article MUMBAI INDIA SCRAP METAL PRICES

Moreover, SAIL’s hot rolled sheet and steel plate prices have been increased by US$44/ton and US$37/ton respectively. On the other side, its cold rolled and hot galvanizing prices did not change.

The excise tax hike has a negative effect on steel makers and the cost on steel products will up by around US$11~13/ton if the excise tax increases by 2 percent. Source www.yieh.com

METALS – Copper wire bars (HCL*), Aluminum ingots, Zinc slab, Lead ingot, Tin, Nickel , Cathode

SCRAP – Copper cable scrap, Copper heavy scrap, Copper armeture, Copper utensil scrap, Copper sheet cutting, Brass utensil scrap, Brass sheet cuttings, Aluminum utensil scrap

Pricing can be found at the Reuters article MUMBAI INDIA SCRAP METAL PRICES

METALS – Copper wire bars (HCL*), Aluminum ingots, Zinc slab, Lead ingot, Tin, Nickel , Cathode

SCRAP – Copper cable scrap, Copper heavy scrap, Copper armeture, Copper utensil scrap, Copper sheet cutting, Brass utensil scrap, Brass sheet cuttings, Aluminum utensil scrap

Pricing can be found at the Reuters article MUMBAI INDIA SCRAP METAL PRICES

Currently, India procurement price of container scrap is about US$240~250/ton(CFR) while last week’s price at US$250~260/ton, down by US$10/ton.

On the other hand, Turkish scrap import prices have soared slightly. The current settle price of American H1 & H2 (80:20) mixed scarp, shredded scarp and P &S scarp price are separately CFR US$230/ton, CFR US$235/ton and CFR US$240/ton.

Source:  www.yieh.com

It now looks that recession has cast a long shadow over shipping business too which includes cruises. This can be seen from the arrivals at Alang, which has about 125 vessels from the international shores lined up for ship breaking this year had only 40 vessels in the whole of last year for ship breaking.

The increase in the ship breaking activity is believed be fallout of the shrinking export-import business and falling freight rates.

According to estimates, more than 600 ships are available for breaking in the international market due to the present recessionary scenario. Each of these ships weighs about 10,000 tonnes to 30,000 tonnes depending upon the capacity. In the wake of this fact, the ship breaking yard is estimated to recover nearly 12 lakh tonnes of scrap steel this year, which is almost double than the previous year.

With the increased availability of scrap steel, which is cost-effective input for rolling mills, the small mills would be able to reduce rebar price. However, as per the latest data released by Joint Plant Committee, Ministry of Steel, Indian consumption of finished steel during April 2008 to January 2009 was 42.321 million tonnes down by 2% YoY as compared to 43.175 million tonnes in April 2007 to January 2008, which may create a negative sentiment for the steel prices in coming days.

In addition to it, with government’s proposal to allow HRC imports without licensing requirements may lead to a further fall in the domestic steel prices. However, experts believe that there would be a positive run in the steel sector during next few weeks as there is a positive feeling among the investors on the basis of Central Government’s directions to the state governments to speed up development related infrastructure projects to combat unemployment and job loss.

Steel ingots February contract surged by 0.4% to Rs.22710/MT as short covering was observed in the market, while LME 3M forward steel billets remained unchanged at USD 310 a tonne. The steel stocks stayed firm on the Indian bourses.

Source: www.commodityonline.com