Ferrous scrap prices are under pressure and prices of prime grade cold rolled close annealed (CRCA) busheling material auctioned by automakers have declined by INR 4,000-5,000/t in the last 15 days across all major markets in the country. At a recent auction of auto components, end-cutting scrap fetched bids at around INR 39,500-40,000/t, down from INR 44,000-45,500/t exw a fortnight back.
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