Steel melting scrap prices saw a minor correction of up to INR 400/t across scrap-based markets in the country on 9 Aug’21 due to subdued steel sentiments, SteelMint’s assessment shows. However, the same in Hyderabad market moved up due to tight supply. Prices in most of the regions declined owing to poor off take in finished steel products which resulted in lower bids. Prices in the near term may fluctuate within a narrow range, trade sources told SteelMint.
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