Author: Kameshwar Rao

SteelMint’s domestic steel scrap index (end-cutting) increased by 600/tonne (t) to INR 42,400/t DAP Mandi Gobindgarh. Higher raw material (sponge iron) prices amid enhanced semi-finished steel (ingot/billet) prices prompted scrap traders to raise their offers today to maintain the conversion spread. However, a few trade participants said that demand for semi-finished has improved marginally since…