Melting scrap prices hit an all-time high in Durgapur, Eastern India, as per the data maintained with SteelMint since Dec ’10. The current scrap price is assessed at INR 32,200/t (DAP), excluding 18% GST. This record price rise can be attributed to the maximum production utilization by induction furnace route along with improved conversion spread from billet to rebar that has increased by around 3.5% to INR 4,883/t in Feb ’21.
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