Melting scrap prices today moved up by up to 500/t in the Northern region (Mandi Gobindgarh) following price movement of semi-finished steel and slight shortage of scrap in the market. Meanwhile, prices fell by around 500/t in Western India (Alang) whereas the same remained stable in the other scrap markets. Near term prices are likely to see minor changes, trade participants reported to Steelmint.
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