Scrap prices at Alang ship breaking yard moved up by INR 1,400/t ($19) d-o-d owing to limited operational activities at plots due to lack of oxygen supply. Indian govt has requested to divert more oxygen supplies for medical purposes so as to fight against COVID. Current melting scrap HMS (80:20) trade reference price is assessed at INR 35,800-36,000/t exw and excluding GST. The hike in prices may disturb conversion spread to semi-finished steel in near term, trade participants reported to SteelMint
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