Melting scrap prices were down by INR 200-500/t d-o-d in major consuming markets of India. Current trade reference price for HMS (80:20) stands at INR 25,600/t Jalna, INR 25,700/t Chennai (DAP). Adequate availability of scrap in domestic market, limited trades and buying inquiries in semi-finished & finished steel market along with falling sponge iron prices remained as the major factors behind decline in scrap prices, trade sources reported to SteelMint.
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