Steel melting scrap prices went down by up to INR 700/t, specifically in the Northern region while other regions witnessed minor changes in prices. Buying inquiries remained quite weak today on bearish sentiments in both the global and domestic markets. While sponge iron and semi-finished steel prices witnessed a sharp fall today, the same for scrap remained relatively low. Prices in the near term may see slight adjustments, trade participants told SteelMint.
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