Melting scrap prices continued upside on the back of improved trades in sponge iron and semi-finished steel. Today, prices moved up by up to INR 800/t specifically in Alang market, Western region whereas in other scrap markets, it gained by INR 200-400/t on a d-o-d basis. Near term prices may inch up further as outlook remains positive, trade participants reported to SteelMint.
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