Melting scrap prices in Alang remain unchanged on 27 Nov’21. The trade reference price of HMS (80:20) is assessed at INR 36,500/t, while attachment scrap prices stand at INR 37,500/t. The conversion spread stood at around INR 6,000/t, against the required spread around INR 7,500-8,000/t, despite the improvement in prices of semis yesterday. This may force a few induction furnaces to halt operations in the short term, SteelMint notes.
Leave a Reply