Auto parts producers in western India receive higher bids at busheling scrap auctions

In the last week of Jun’22, auto component producers in northern and western India held multiple auctions for mild steel melting scrap. A Maharashtra-based auto parts producer conducted an auction for around 275 t of CR-busheling (Prompt) scrap that fetched bids at around INR 44,200-44,550/t ex-works. In the third week of the month, the same material fetched bids of around INR 43,000-43,500/t in auctions.