Melting scrap prices in major regional markets remained supportive, as assessed by SteelMint. Prices improved by around INR 500/t especially in the northern region based markets. The other markets also observed upward trend by around INR 100-400/t on account of supportive substitute (sponge) and semi-finished prices. However, in a few markets particularly in the southern region, prices remained stable on routine procurement level. Prices on a daily basis can fluctuate slightly, sources reported to SteelMint.
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