Domestic melting scrap prices in most of the major consuming markets, mainly in western region, increased by INR 100-500/t d-o-d, owing to rising finished steel prices. Current trade price for HMS (80:20) is assessed at INR 23,800-24,100/t Jalna, INR 22,800-23,200/t Chennai (DAP). As per our trade sources, strengthening finished steel prices may keep scrap prices supportive in the near term.
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