The stainless steel market witnessed a diverse price trend and subdued demand attributed to restrained buying activities and finished product sales. SteelMint's assessment reveals a weekly drop of INR 3,000/t ($36/t) in 304 HRC prices, reaching INR 175,000/t ($2,100/t), ex-Mumbai. Simultaneously, imported 304-grade scrap offers rose to $1,355/t CIF Mundra. Meanwhile, LME's three-month nickel futures experienced a 0.7% increase, reaching $16,900/t at the time of reporting.
