Shipbreaking melting scrap prices in Gujarat’s Alang market dropped INR 300/t d-o-d on 17 May’22. HMS (80:20) prices are assessed at INR 46,200/t exy. A sharp correction was observed in semi-finished steel prices and there were few buying enquiries for scrap owing to weak sentiments in the spot market. These factors prompted scrap suppliers in the region to reduce their offers.
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