Domestic scrap prices remained unchanged at most of the places
on Monday. However, prices are likely to correct soon in the domestic market
reason being:
* Arrival of Cheaper scrap Imports
* Strengthening of Indian
Rupee against Dollar
* Subdued demand for finished goods
According to traders based in Eastern India, “Tight liquidity &
weak demand for finished products might pull down scrap prices in the near
term”.
“Arrival of cheaper Imports
will prompt local dealers to reduce their offers. So, prices in the domestic market are likely to
correct soon”, said a trader based in Kandla.
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