Melting scrap prices today moved up by up to INR 800/t particularly in Mandi Gobindgarh, Northern region following an increase in sponge iron prices amid shortage of scrap. Meanwhile, the same in Gujarat remained stable and increased marginally in few markets in Maharashtra. Scrap prices in the near-term may witness minor downward corrections due to inadequate buying inquiries in finished steel, trade sources reported to SteelMint.
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