India's stainless steel scrap prices rise amid surge in LME nickel
India's domestic stainless steel prices remained stable w-o-w. Meanwhile, imported scrap prices increased by $10/t. This was influenced by a rise in LME nickel prices, reaching $16,910/t , up by 6% w-o-w. Chinese stimulus measures and restocking demand ahead of the National Day holiday also played a role. SS304 scrap prices stood at $1,420/t and SS316 prices stood at $2,620/t CFR Mundra.