Domestic steel melting scrap offers are on a rising trend since a couple of weeks. Prices have been absorbed on limited availability. Today, it increased by INR 100-500/t d-o-d, as per SteelMint assessment. However in the Jalna market, scrap prices increased by INR 500/t against INR 1,700/t in semi-finished and finished steel owing to recent deliveries of imported scrap bought by major local mills. Trade participants are expecting that near term prices may remain either range bound or supportive.
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