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Fresh tonnage supply still low, says Wirana report
Plate and scrap prices in India have increased by US$16/MT and US$18/MT during the week ended 4 May 2024, having substantially improved over the last 30 days, according to Wirana Shipping https://www.wirana.com/ report.
“It is very heartening to note that local steel plate prices https://indsteel.org/ have substantially improved about US$40/MT and local scrap prices have improved by about US$50/MT over the last 30 days,” said the report.
Billet prices have also increased by US$13/MT during the week.
“While there have hardly been any deals concluded on fresh tonnages this week to ascertain price improvements, we are seeing improved sentiments amongst ship recyclers https://www.conexpoconagg.com/ ,” said the report.
“Considering an improved local steel market https://stainless-steel-world-asia.com/ with the supplies of fresh tonnages still slow, we can expect prices offered by ship recyclers to improve in the coming week/s,” said the report. Fiinews.com
