Author: Kameshwar Rao

SteelMint’s domestic steel scrap index (end-cutting) declined considerably by INR 900/t to INR 41,000/t DAP Mandi Gobindgarh. Poor offtake in finished steel since the last couple of weeks impacted semi-finished movement which ultimately put pressure on scrap prices. However, a few market participants said due to production cut/shutdown in surrounding markets mainly due to strict…