Domestic melting scrap prices observed a downfall on second consecutive day by INR 200-300/t on d-o-d basis. Current trade reference price in Jalna and Chennai is assessed at INR 24,000/t (DAP). Drop in billet and rebar prices have led to price correction in scrap, however considering tight scrap availability, prices remain volatile in near term shared market participants with SteelMint.
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