India: CRC scrap prices witness minor correction by up to INR 500/t

CRC scrap prices witnessed a nominal correction of up to INR 500/t in the northern region as finished steel prices edged lower. However, in the western and southern regions prices stayed rangebound with negligible changes on 23 Aug’21. Prevailing CRC sheet cutting scrap offers are assessed at INR 39,400-39,800/t at Mandi Gobindhgarh. Prices are at INR 36,500-37,000/t in Chennai and are assessed at INR 37,500-37,800/t in Jalna, Maharashtra. Turning scrap offers, however, have been reported at INR 32,600-33,100/t and INR 31,300-31,700/t in Jalna and Chennai respectively, on DAP basis, excluding GST.