News and Events

The Indian Steel scrap market still reains sale with lowest demand YoY in compare with 2011-12. The prices remain the same at various parts even though the imports have not yet picked up to the level as it is supposed to be. With no much variations in the Budget for the Customs duty and the excise duty structures, the business is yet to pick up in most of the regions. The import quotes are much lower but the dollar to rupee fluctuations keeps the importers guessing for long. The situation might improve from the second fortnight of March as there would be sever power shortages in the comming summer months added with production cuts too. The prices therefore tend to be stable till 3rd week of this month.