Shipbreaking melting scrap prices in Alang, Gujarat, surged INR 1,000/t d-o-d. The rise in buying enquiries and bookings concluded by local buyers and a few based outside the state prompted suppliers to raise prices. However, most of the mills based in Bhavnagar are still opting to wait and watch before procuring material at this price level owing to weak demand for semis and finished steel.
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