Author: Kameshwar Rao

SteelMint’s domestic steel scrap (end-cutting) index fell by 300/tonne (t) to INR 38,200/t DAP Mandi Gobindgarh. Despite almost stable semi-finished (ingots/billets) prices, scrap prices fell on account of improvement in the conversion spread from melting scrap to semis, which currently stands at INR 11,300-11,500/t. Further, government crackdown on unaccountable transactions could support existing prices for…