Alang’s shipbreaking scrap prices improved by INR 200/t, d-o-d, as per SteelMint assessment. HMS (80:20) prices are assessed at INR 35,300/t, while attachment scrap prices stand at INR 36,300/t. Prices improved marginally on healthy transactions in semi-finished steel across major markets. As reported yesterday, induction furnace steelmakers’ conversion spread improved on a daily basis and currently stands at around INR INR 6,600-6,800/t from Alang melting scrap to Bhavnagar ingot, including freight charges. SteelMint expects margins to remain rangebound on a day-to-day basis.
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