The domestic stainless steel market has slowly picked up after trading moved in a slow lane for about a week after the imposition of export duty on stainless steel finished products on 22 May’22. However, the major mills are still in a wait-and-watch mode, awaiting further price correction. SteelMint’s assessment for 304 grade scrap is at INR 152,000/t ($1,960/t) exy-Delhi, while 316 grade prices stand at INR 255,000/t ($3,288/t) exy-Delhi.
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