Melting scrap prices increased by around INR 500/t on 7 Dec’21, particularly in the northern region, with the firming up of semi-finished steel prices, as per SteelMint reports. However, a slight price correction was witnessed in a few markets in the western region following a marginal correction in sponge iron prices. In the short-term, scrap prices may vary with little possiblity of any major changes, sources informed.
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