India: Kolhapur foundry scrap prices face pressure as mills slash output by around 30%

In the Kolhapur foundry market, ferrous scrap prices declined by INR 300-700/t w-o-w, as local mills reduced production by around 30-40% this month. With lower offtake, scrap sellers were compelled to cut prices. Recent offers for CR-busheling (low Mn) were at INR 40,500-40,800/t, while plate cutting scrap (10-50 mm, low sulphur and phosphorus) was offered at INR 36,500-37,000/t DAP Kolhapur, with payment terms of 1 month.