Ferrous scrap prices remained supported across markets on 21 Mar’22 following a surge in sponge iron and semi-finished steel prices. Besides, active response was received at the recently concluded pig iron auction by SAIL-RSP. Scrap prices stayed firm at high levels on account of supply tightness, especially in the markets in north India. Prices in the near term may remain firm, particularly in Alang, sources informed.
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