- Prices of domestic 304 grade stainless steel scrap fell by INR 3,000/t ($39/t) today, while 316 grade scrap prices decreased by INR 4,000/t ($52/t) as against 10 May’22, as per SteelMint assessment.
- The effective price of 304 grade scrap is INR 174,000/t ($2,245/t), while 316 grade scrap prices are at INR 270,000/t ($3,484/t) exy Delhi. Lower demand amid rising inflation has led to the fall.
- The LME nickel three-month prices have fallen by $608/t d-o-d.
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