Domestic melting scrap prices in western India (Jalna) continued to increase by INR 300/t on d-o-d basis and close to INR 1,000/t on w-o-w basis, owing to demand and supply mismatch. Current trade reference price of HMS (80:20) stands at INR 20,500/t FoR. Sources anticipate that prices may remain supportive in near term.
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