India’s imported stainless steel scrap prices decreased by up to $50/t w-o-w on declining LME nickel prices. As per BigMint’s assessment, SS304 scrap prices stood at $1,450/t (down $40/t) and SS316 at $2,650/t (down $50/t) CFR Mundra. As per sources, mills have again started booking imported scrap. LME nickel saw a 1% drop w-o-w, settling at $15,925/t. Meanwhile, domestic scrap prices remained largely stable.
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