Author: Kameshwar Rao

India: Domestic steel scrap index drops INR 100/t as buying interest dips

Sep 7, 2021

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by

Kameshwar Rao

in Melting Scrap

SteelMint’s domestic steel scrap (end-cutting) index declined by INR 100/tonne (t) to INR 37,900/t DAP Mandi Gobindgarh. Reasons behind today’s price corrections are a) limited buying interest from rolling mills for semi-finished steel due to possibility of price correction in near term; b) slight correction in semi-finished steel prices, which ultimately disturbs the conversion spread.…