India: Melting scrap prices vary from region to region

Melting scrap prices observed slight fluctuations, varying from region to region. In the northern region, prices declined by up to INR 500/t whereas in western and southern regions, the same moved up by a similar range. Further, it is also learned that a few semi-finished transactions were concluded at higher prices but this is less likely to affect scrap prices as sellers, particularly in the western region, are not willing to conclude deals on a higher range due to modest availability, trade participants reported to SteelMint.