Author: Kameshwar Rao

SteelMint’s domestic steel scrap index (end-cutting) increased by 400/tonne (t) to INR 41,200/t DAP Mandi Gobindgarh on 31 Dec’21. Higher raw material (sponge iron) and semi-finished steel (ingots/billets) prices prompted scrap traders to raise their offers to maintain the conversion spread. It was also learned that inadequate scrap movement from the inter-state markets and strict…