Steel melting scrap prices declined further across major Indian scrap-based markets on 2 Jul’21, as per SteelMint reports. Prices slipped by INR 700/t in Hyderabad, while in several other markets prices corrected by INR 100-200/t due to prevailing uncertainty over steel prices. However, in markets in western India such as Gujarat, offers remained stable. Scrap prices in the near-term are likely to remain range bound, trader sources informed SteelMint.
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