Melting scrap prices witnessed a hike across markets on 27 Dec’21. Prices increased by INR 1,000/t in Punjab tracking higher raw material (coal) prices and a surge in sponge iron and semi-finished steel prices. However, other scrap-based markets also witnessed an uptrend today, with prices moving up by around 300-600/t. Scrap prices in the near term may remain positive, particularly in the Alang market, trade participants told SteelMint.
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