Indian domestic melting scrap prices moved up by INR 100-300/t d-o-d basis on some healthy trades. Current trade reference price for HMS (80:20) is INR 24,300-24,600/t Jalna, INR 23,100-23,400/t Chennai (DAP). The price hike was owing to adequate semi-finished transactions as well as price support of substitute (sponge iron) prices. However, finish steel movement is yet to catch the parallel pace, trade participants shared with SteelMint.
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