India: Alang shipbreaking scrap prices fall further by INR 500/t

Shipbreaking melting scrap prices in Gujarat’s Alang corrected by INR 500/t, d-o-d, as per SteelMint assessment. Heavy Melting Scrap (80:20) prices are assessed at INR 35,600/t, while attachment scrap prices have been reported at INR 36,600/t. As reported yesterday, there could be further pressure on prices amid limited buying interest over narrowing conversion spreads from melting scrap to ingot, SteelMint notes.