Author: Kameshwar Rao

SteelMint’s domestic steel scrap (end-cutting) index was slightly down by INR 200/t to INR 37,100/t DAP Mandi Gobindgarh. Market participants feel that scrap prices are not likely to further contract majorly as standalone induction furnaces have increased their capacity utilization to improve conversion spread on adequate scrap availability. However, considering the finished steel stock level,…