India: Melting scrap prices witness sharp fall by up to INR 1,100 ($15)

Melting scrap prices fell today by INR 500-1,100/t d-o-d due to bearish market sentiments and by INR 3,000/t on a w-o-w basis following price corrections in semi-finished steel. Near term prices may see minor corrections amid unclear market trend, trade participants reported to SteelMint.