Author: Kameshwar Rao

SteelMint’s domestic steel scrap (end-cutting) index sharply moved up to INR 34,800/tonne (t) DAP Mandi Gobindgarh, gaining by a sharp INR 900/t. Strengthening semis forced scrap sellers to increase their offers. But buyers resisted amid adequate scrap stocks and limited transactions. Conversion spread from melting scrap to semis’ currently stands at around INR 12,500/t, correcting…