Melting scrap prices inched down by up to INR 300/t across markets, except Alang where shipbreaking scrap offers moved up by INR 100/t on average semi-finished steel transactions the day before. Falling scrap offers were largely due to low buying interest, particularly in the western and northern regions, as accumulating finished steel inventories resulted in buyers procuring limited quantities amidst further correction in finished steel prices that might disturb either the conversion spread or capacity utilisation in the near term, trader sources reported.
Leave a Reply