Melting scrap prices have witnessed variations during the last few days over considerable changes in prices of semis as well as finished steel. Factors that could be attributed for the high and low movements of prices are adequate availability of scrap in most scrap-based regions and required region-specific conversion spreads. Buyers are not willing to adjust their margins, caring not so much as to whether the material is available or not, especially in the northern region. Near-term spreads may get corrected as per market requirements, SteelMint analysis shows.
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