India: Alang melting scrap prices stable for second day in a row

Melting scrap prices in Gujarat’s Alang remained stable for the second consecutive day. Limited buying enquiries and deals in the semi-finished steel market prompted Bhavnagar-based IF mills to hold back on bulk purchases, thereby forcing scrap suppliers to keep prices stable. Trade reference prices are as below.

• Melting scrap (HMS 80:20): INR 39,500-39,700/t
• Attachment scrap: INR 40,500-40,700/t