Melting scrap prices in Alang fell by INR 500/t today. HMS (80:20) prices are at INR 38,300/t while attachment scrap prices hover at INR 39,300/t. Lack of demand and trade in semi-finished steel on higher prices in the region during yesterday’s trading session impacted buying enquiries of the IF mills. This forced suppliers to reduce scrap prices today, SteelMint notes.
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