Alang’s shipbreaking scrap prices dropped further by INR 300/t, d-o-d, as per SteelMint assessment. HMS (80:20) prices are assessed at INR 35,400-35,500/t, while attachment scrap prices stand at INR 36,400-36,500/t. Correction in semi-finished steel prices yesterday resulted in a minor drop in scrap prices today. Although bids by buyers varied by INR 200-300/t, market participants expect offers to reduce to around INR 35,200-35,300/t to match the appropriate conversion spread from scrap to semi-finished steel prices, trader sources informed.
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