Steel melting scrap prices edged higher following hike in semi-finished steel prices and stable sponge iron prices. Scrap prices in the Western and Southern region remained unchanged except in the Kandla market where minor corrections by INR 300/t were seen on limited buying interest due to minimum production utilization. However, in the Northern region, prices gained by up to INR 500/t. Scrap prices in the near term may continue to see minor changes, trade channels reported to SteelMint.
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