Ferrous scrap pricess decreased in most major markets on 9 Nov’21 due to:
a) Coal prices have been falling over the last 10 days, while sponge iron and pellet prices have dropped today;
b) Dull buying enquiries in finished steel impacted semi-finished steel trade; and
c) Non-viability of imported scrap on account of higher offers amidst offer-bid disparity, plus long lead times and fluctuating steel prices.
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