India: Melting scrap prices in Alang hit new high since Mar’12

Melting scrap prices in Gujarat’s Alang market drifted up by INR 1,000/t compared to day before yesterday, thereby touching a new high since Mar’12. HMS (80:20) is assessed at INR 40,500/t while attachment scrap prices stand at INR 41,500/t. SteelMint had earlier anticipated a hike in scrap prices on the back of rising semi-finished steel prices and a moderate rise in finished steel prices.