Domestic melting scrap prices surged by INR 400/t ($5) today in Jalna (western India) to INR 23,100/t FoR as per SteelMint’s daily assessment. Market participants reported that tight scrap availability led to a price hike specifically in the Jalna market and may inch up further for the near term. Whereas Alang market may observe some development owing to improved semi-finish (ingot/billet) transactions.
Leave a Reply