Melting scrap prices trended downwards in all the major scrap-based markets in the country on 14 Jun’21. Scrap prices in Punjab’s Mandi Gobindgarh fell by INR 600/t on account of a correction in sponge iron and semi-finished steel prices. In western India, meanwhile, prices moved down by around INR 100-400/t on lack of demand for finished steel. However, trader sources informed SteelMint that prices could come under pressure in the short term, especially in western India.
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