Domestic melting scrap prices dropped by INR 100-500/t d-o-d in most of the major consuming markets of western region. Adequate availability, weak sentiments in the global market, and slow trade activity in finished steel since the last couple of days, were the major factors behind the price correction. Current trade price for HMS (80:20) is assessed at INR 23,700-24,000/t Jalna and INR 22,500-22,800/t Chennai (DAP).
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