India: Stainless steel scrap prices rise w-o-w amid improved buying

India’s stainless steel scrap prices increased w-o-w, amid improved buying by mills, especially for imported material. Domestic 304-grade scrap stood at INR 113,000/t ($1,322/t) ex-Delhi, up by INR 2,000/t, while deals for imported material were heard at $1,290/t CFR Mundra, with tags up by $35/t. Three-month LME nickel prices stood at $15,745/t, reflecting an increase of 3% from last week’s $15,285/t.