Melting scrap prices witnessed minor corrections following the southward trend in semi-finished and finished steel prices. Steel scrap prices fell by INR 200-300/t in the western region (Jalna and Mumbai markets). The southern markets (Chennai) remained close due to the Pongal festival and are likely to resume trades in a couple of days. Near term prices are expected to see slight adjustments upon trade volume, trade participants told SteelMint
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