Domestic 304 grade stainless steel (SS) scrap prices fell today by INR 5,000/t ($64/t) to INR 149,000/t ($1,907/t) ex-Delhi as against prices on 16 June. The price of 304 grade SS HR coil was recorded at INR 238,000/t ($3,047/t) ex-Mumbai, a decrease of INR 5,000/t ($64/t) as against 14 June, as per SteelMint assessment.
Falling nickel prices on LME drove the domestic market lower. Notably LME nickel cash prices dropped by $185/t to $25,230/t on 20 June.
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