India: Ferrous scrap prices drift higher on optimistic sentiments

Ferrous scrap prices remained positive across domestic markets despite trending at an all-time high. Prices strengthened on d-o-d basis on rising raw material prices, especially coal, amidst insufficient scrap inflow into the market at a few locations. Prices in the near term are expected to remain supported considering upward movement in global prices, sources informed SteelMint.


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