An auction conducted on 20 May 2022 for 400 t of old cylinders from Pune in Maharashtra fetched bids at INR 46,000-46500/t exw, market sources informed SteelMint. Compared to last week’s auction, the price dropped by around INR 1,000-1,500/t. Notably, IOCL and HPCL regularly recycle scrap obtained from damaged gas cylinders. This scrap is then cut and shredded by recycling plants and sold to furnaces for melting.
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