Melting scrap prices witnessed a downfall of INR 100-200/t in most of the regions except western India. In Jalna, Maharashtra, prices dropped by INR 500/t owing to adequate availability in the domestic market, sources reported to SteelMint. In the Chennai market, prices remained supportive due to supply tightness. Also variations were seen in bids and offers by INR 500-600/t among trade participants. It is expected that prices may rebound in the near term.
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