India’s domestic stainless steel scrap prices rose by up to INR 5,000/t. Domestic SS 304 scrap held at INR 122,000/t (up INR 2,000/t) and SS 316 scrap at INR 220,000/t (up by INR 5,000/t), ex-Delhi. Imported scrap prices stood at $1,430/t for 304-grade and $2,640/t for 316-grade, CFR Mundra. Imported material inquiries are slow. Bid-offer disparities persist as buyers avoid imports, anticipating higher shipping rates due to SE Asian congestion.
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