Tag: India: Chennai’s ferrous scrap prices drop by INR 1300/t w-o-w on weak steel demand – 28 May

Rising steel stocks, production cuts impact scrap demand Mills currently holding 15-20 days of finished steel stocks According to BigMint’s latest assessment, HMS (80:20) scrap prices in Chennai declined by INR 300/t d-o-d to INR 32,500/t, registering a w-o-w correction of INR 1,300/t. In the semi-finished segment, billet prices dropped by INR 500/t d-o-d to…