India: Melting scrap prices increase by up to INR 1,000/t

Steel melting scrap prices increased across the country on 20 Jul’21, as per SteelMint reports. In markets, particularly Punjab and Gujarat, prices moved up by INR 800-1,000/t ($13) on rising semi-finished steel prices amidst upbeat steelmaking raw material price sentiments in China. However, in other markets, with the lone exception of Chennai, scrap prices witnessed an uptick of INR 300-500/t on account of active trading in steel, as per SteelMint reports.