- Prices of domestic stainless steel grades 304 and 316 scrap moved up by INR 7,000/t ($93/t) w-o-w, as per market sources.
- The effective price for stainless steel grade 316 stands at INR 252,000/t ($3,346/t) and that of grade 304 at INR 176,000/t ($2,337/t) exy-Delhi.
- The highest-ever LME prices and ongoing Russia-Ukraine war supported bullish market sentiments, leading to supply tightness and strong demand.
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