India: Melting scrap prices down by INR 700/t in Alang

Melting Scrap prices in Alang witnessed a sharp fall of INR 700/t on 10 Dec’21. The trade reference price of HMS (80:20) is assessed at INR 36,800/t, while attachment scrap prices stand at INR 37,800/t. Induction furnace units based at Bhavnagar market saw limited buying inquiries during yesterday’s closing session propels measured bids results adjusted offers today, SteelMint notes.