Steel melting scrap prices continue to vary amidst uncertainty over finished steel movements, with major supply regions of the country yet to report adequate transactions for the last few days. A majority of trader sources shared that project sales couldn’t capture the momentum despite production curbs, especially in rebar due to the nominal gap between the induction furnace and blast furnace grade prices. Further, scrap availability is just about average. Near-term prices may remain rangebound, SteelMint learnt from sources.
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