Melting scrap prices shot up in western India on 24 May’21, SteelMint confirmed from sources. At Alang in Gujarat, prices witnessed an uptick of INR 1,000/t ($14) followed by Ahmedabad and Kandla where prices reportedly rose by around INR 300-500/t owing to supply tightness in the market. However, in the northern and southern regions, prices fell approximately by INR 400-500/t on account of limited buying interest for semi-finished steel products. Only minor changes in prices could be expected in the near term, trade sources told SteelMint.
Leave a Reply