Melting scrap prices plunged INR 600/t in the scrap markets in north India on 17 Jun’21 on muted demand for finished steel and sharp downward correction in semi-finished steel prices, as per SteelMint assessment. Although in the Gujarat market prices dropped by INR 300/t, a slight uptick was observed in the Chennai market due to tight material availability. However, in a few other scrap-based markets prices remained stable on normal buying interest, as per sources.
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