Melting scrap prices witnessed a downward correction across regional markets on 22 Nov’21. Prices moved down by around INR 1,000/t in the Ludhiana market in Punjab following the decline in semi-finished steel prices. However, prices fell at other locations, too, by around INR 400-700/t due to poor offtake of finished steel products. Prices showed positive trends in some markets on supply concerns, SteelMint notes.
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