Melting scrap prices witnessed a downward correction across markets on 6 Apr’22 following decreasing prices of substitutes (sponge iron) and semi-finished steel amidst limited trades in finished steel. Meanwhile, imported scrap offers for HMS (80:20) are currently at $579/t CFR for Middle East-origin material, but most steelmakers are relying on domestic scrap supply due to uncertain market trends, SteelMint notes.
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