Scrap auctions by auto parts producers in western India receive weak response

In the fouth week of May’22, auto component producers in western India conducted multiple auctions of mild steel melting/component scrap. A Nashik-based auto parts producer conducted an auction for around 200 t of auto HR-CR mixed busheling scrap that fetched bids at around INR 38,500-39,000/t exw. The same material fetched bids at around INR 44,500-45,000/t exw last week.