Melting scrap prices moved down further by INR 1,200/t on 26 May’21, especially in the Alang market in the western region, owing to global downtrends as China’s move to rein in commodities prices have put domestic steel prices under pressure. Buying inquiries for semi-finished steel products remain limited. Meanwhile, in other scrap markets, prices fell by around INR 500-900/t, SteelMint assessment shows.
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