CRC scrap prices witnessed a nominal correction of INR 200-400/t in north and west India, while prices in the south remained rangebound on 21 Aug'21. Dull sentiments created a slight selling pressure in offloading existing stocks in the northern region, whereas a few sellers in the western region held minimum inventory levels at scrapyards on expectations of short-term improvement in prices, trader sources informed. Prevailing CRC sheet cutting scrap offers are assessed at INR 40,000-40,400/t in Mandi Gobindhgarh. Prices are at INR 37,000-37,300/t in Chennai. Prices in Jalna are assessed at INR 37,700-38,100/t, although turning scrap offers reported at INR 32,700-33,100/t on DAP basis, excluding GST.
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