Melting scrap prices continued its northward trend as it rose by up to INR 600/t on the back of improved semi-finished steel transactions and moderate finished steel lifting. However, a few market participants are expecting that the near-term price trend may remain range-bound due to material shortage amid ongoing checking by the government officials to prevent unaccountable trades. Also, prices in the western region may inch up slightly, sources reported to Steelmint.
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