Author: Kameshwar Rao

SteelMint’s domestic steel scrap index (end-cutting) surged by INR 1,000/tonne (t) d-o-d to INR 48,000/t DAP Mandi Gobindgarh on 2 Mar’22. A hike in semi-finished steel (ingots/billets) and sponge iron prices prompted scrap traders to raise their offers to maintain the conversion spread. A few trade participants said that demand for locally-produced semi-finished (ingots/billets) has…