Retail demand still slower, says Wirana report
Plate prices in India increased by US$19/MT and local scrap prices improved by about US$20/MT, followed by US$15/MT increase in billet prices, according to a report by Wirana Shipping Corp for the week ended 20 April 2024.
Imported scrap price increased by US$ 6/MT https://worldsteel.org/ .
“We are seeing increased demand from secondary steel mills https://indsteel.org/ but there is still a slower demand from the retail end,” said the report.
Prices offered by ship recyclers improved by US$15/LT during the week.
Despite the increased prices offered by ship recyclers https://steel.gov.in/ , they are still not able to compete with their counterparts in Bangladesh and Pakistan, added the report.
“We would expect prices offered by ship recyclers to remain strong with a possibility of firming up.” Fiinews.com
