Melting scrap prices in Gujarat’s Alang fell by INR 400/t on 25 Nov’21. The trade reference price for heavy melting scrap (HMS 80:20) is assessed at INR 36,300/t, while attachment scrap prices stand at INR 37,300/t. Market participants believe that scrap offers may hover at INR 35,000/t in view of the unviable conversion spread from scrap to semis, SteelMint notes.
Leave a Reply