Domestic and imported stainless steel scrap prices remained largely steady w-o-w amid falling LME nickel rates. In Delhi, domestic SS 304 scrap held at INR 121,500/t and SS 316 scrap at INR 220,000/t. Imported prices were $1,440/t for 304-grade and $2,650/t for 316-grade, CFR Mundra. Anticipations suggest domestic scrap prices could decline following the recent cut in finished coil prices by India’s top stainless steel producer.
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