Author: Abhishek Bhalla

SteelMint’s domestic steel scrap index has moved down by INR 400/t today and is assessed at INR 33,900/t DAP Mandi Gobindgarh basis. Buyers are somehow managing to maintain the conversion spread from scrap to billets and thus lowered their scrap purchase bids accordingly. Semi-finished steel prices fell by INR 200/t against INR 300-400/t price correction…