India: Stainless steel scrap prices range-bound

  • Domestic stainless steel scrap (304 grade) prices were range-bound at INR 129,000/t ($1,568/t) exy-Delhi today against 21 Mar’23. Major buyers had already replenished the inventory ahead of the fiscal year-end.
  • Whereas, induction-grade utensil scrap prices fell INR 1,000/t (12/t) to INR 64,000/t ($778/t). Prices of 316 grade stood at INR 243,000/t ($2,954/t) exy.
  • Nickel prices on LME dropped by $775/t w-o-w to $22,461/t.

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