Melting scrap prices improved sharply on a d-o-d basis except in the Durgapur market on 1 Apr’22. Prices moved up by around INR 1,000-1,300 especially in the Punjab market following a rise in semi-finished steel prices amidst the correction in conversion spread in Mandi Gobindgarh. However, prices drifted down in the Durgapur market due to the lack of demand from steelmakers on higher cost.
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