Melting
scrap prices in Bhavnagar open higher by Rs 200-300/t on rising ingot prices
and falling Rupee against Dollar (1$=Rs 52.10).
“Melting
scrap trading at Rs 27600/t (Basic) as demand from Mandi Govindgarh has
improved on shortage and weakening Rupee, which will make imported scrap
expensive.” said a local trader based in Alang.
With
rising demand and short supply will help keep scrap prices firm in domestic
market , he further added.
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