Melting scrap prices continued to head southward at most locations in India on 25 May 2022 due to limited steel trades. Declining raw material (sponge iron) and semi-finished prices induced scrap buyers to lower their bids. Meanwhile, the difference between domestic and imported scrap prices slightly widened amidst improved trades. Current offers of Middle East-origin HMS (80:20) are hovering at $470-475.
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