Melting scrap prices in Alang rose by INR 700/t today. HMS (80:20) prices are at INR 38,200/t, while attachment scrap prices stand at INR 39,200/t. However, semi-finished steel prices increased only marginally by INR 100-200/t yesterday. The induction furnace units are still grappling with narrow conversion spreads from melting scrap to semis, which was assessed by SteelMint at around INR 6,000-6,200/t.
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