- Domestic stainless steel scrap prices for grades 304 and 316 increased by INR 5,000/t ($79/t) and INR 3,000/t ($39/t) today. Current prices are at INR 184,000/t ($2,427/t) and INR 253,000/t ($3,338/t) respectively compared with 3 Mar’22.
- The price hike was not aligned with the steep rise in LME futures due to lower demand from major north India mills.
- Nickel trading at LME resumed from 16 March after suspension amid high price volatility. The 3-month contract closed at $45,590/t level yesterday.
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