Melting scrap prices witnessed a hike across markets in the country on 29 Jul’21, as per Steelmint assessment. Prices jumped by up to INR 600/t due to improving sponge iron, semi-finished and finished steel prices amid inadequate supply and a slight correction in conversion spreads noticed especially in the northern region. Near-term prices may remain supported without the likelihood of any major change, trader sources told SteelMint.
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