Melting scrap prices increased by INR 1,500/t d-o-d in Alang, Gujarat, SteelMint assessment shows. HMS (80:20) prices are assessed at INR 44,500/t exy. The sudden hike in semi-finished steel prices during the late hours of yesterday’s trading session propped up scrap prices. There is the pressure to sell ahead of the upcoming Holi festival. Scrap suppliers sold old stocks at the current price level and are quoting higher prices now.
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