Stainless-steel scrap prices declined due to weak demand in the domestic utensil market along with Covid outbreak in China. Domestic stainless steel scrap prices for grades 304 and 316 decreased by INR 5,000/t ($65.5/t) and INR 7,000/t ($92/t) today respectively compared with 26 Apr’22. Current prices are at INR 184,000/t ($2,410/t) and INR 282,000/t ($3,694/t).
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