Melting scrap prices decreased in most of the major markets on 14 Jul’21 owing to the following reasons:
- Falling prices of substitutes such as sponge iron.
- Balanced supply of scrap in the market particularly in Northern region.
- Price correction in semi-finished and finished steel products.
- Slight correction seen in recent imported scrap deals in Turkey
In the near term, prices may see necessary corrections specifically in western region, trade channels reported to SteelMint.
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