Ferrous scrap prices jumped INR 600/t on d-o-d basis, especially in Punjab’s Ludhiana market. However, other markets also witnessed a price hike in the range of INR 200-500/t following an uptick in sponge iron, semi-finished and finished steel prices amid inadequate supply at a few locations. Prices in the near term may remain supported without the likelihood any major changes, trader sources informed.
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