Tag: India: Chennai’s ferrous scrap prices dip by INR 300/t w-o-w amid weak steel demand – 22 May

High rebar inventories reduce demand for billets Persistent rainfall, liquidity crunch hinder trade Chennai’s steel market witnessed a decline w-o-w but stability d-o-d, as per BigMint’s latest assessment. HMS (80:20) scrap prices decreased by INR 300/tonne (t) w-o-w to INR 31,000/t. However, there was no change d-o-d. Billet prices remained stable d-o-d but fell by…