Construction grade steel still not certain, says Wirana
The export market for billet has shown some improvement allowing for some additional movement of stocks while local prices have marginally increased by US$5/MT in line with rebar price increase, according to a report by Wirana Shipping Corp.
Plate prices have also marginally increased by US$3/MT, says the report for weekended 16 Dec 2023.
Overall, the Indian market is still not firm as the construction grade is still not certain.
Prices offered by ship recyclers improved during the week ended (16 Dec) by about US$5-10/LT LDT.
Supply of fresh tonnages is very limited which is also resulting inhigher prices being offered by ship recyclers.
“We may see prices hold the same levels with a possibility to marginally firm up if the supply of fresh tonnages continues to be low,” said the report. Fiinews.com
