Author: Kameshwar Rao
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India: Melting scrap prices drop on limited steel trades
Melting scrap prices witnessed a downward correction across key markets on 21 May’22. Decreasing sponge iron prices and limited trades in semi-finished and finished steel markets weighed down scrap prices. On the contrary, western-based Alang market prices were slightly positive due to the hike in semi-finished prices in yesterday’s session, SteelMint notes.