Ferrous scrap prices plunged by INR 700/t in Mandi Gobindgarh’s scrap market on 13 Jul’21 due to lack of demand amid a sharp downward correction in semi-finished steel prices, as per SteelMint reports. However, other scrap markets too witnessed price drops of around INR 200-400/t due to similar reasons. That said, a slight uptick in prices was observed in the Chennai and Maharashtra markets due to moderately robust steel sentiments, as per sources.
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