Melting scrap prices today saw fluctuations in different scrap markets by up to INR 500/t depending on regions. Prices in Maharashtra market, Western region remained supported by improved finished steel prices. However, the same in Gujarat market followed semi-finished price trend. Drop in sponge iron prices also weighed on scrap prices. It is expected that scrap prices in the near-term may see minor changes, trade participants reported to SteelMint.
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