Melting Scrap prices in Alang rose by INR 500/t on 1 Dec’21. The trade reference price of HMS (80:20) is assessed at 37,500/t, whereas attachment scrap prices stand at 38,500/t. Prices increased by INR 1,000/t over the last two days due to rising semi-finished steel prices, which prompted scrap suppliers to keep offers firm. However, demand is still lukewarm, market participants informed.
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