Melting scrap prices continued to fall on bearish sentiments on 8 Oct’21. Prices fell by around INR 900/t in Mandi Gobindgarh, Punjab. Other markets, too, witnessed prices dropping by around INR 400-700/t following a correction in sponge iron and semi-finished steel prices. However, the Chennai market witnessed positive movements in scrap prices due to limited availability despite stability in semi-finished steel prices.
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