Cold rolled close annealed (CRCA) scrap prices increased by INR 700-1,400/t across major markets. Prices in north India increased by INR 1,400/t, whereas in the western and southern markets prices drifted up by INR 700-800/t. However, semi-finished and finished steel prices rose higher compared to melting scrap, especially prime grade scrap. This may either keep near-term scrap prices supported or boost prices, SteelMint notes.
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