Author: Kameshwar Rao

SteelMint’s domestic steel scrap (end-cutting) index gained by INR 900/tonne (t) to INR 36,500/tonne (t) DAP Mandi Gobindgarh. Restrained scrap offers created supply tightness which resulted in improved bids amidst adequate price hikes in semis. However, improved bids ultimately narrowed the conversion spread on a day-today basis to INR 12,000/t. The near term may see…