Melting scrap prices in Gujarat’s Alang increased further by INR 600/t today. Rise in the prices of semi-finished steel encouraged scrap suppliers to quote higher prices. However, purchase inquiries are moderate at current levels, SteelMint learned from sources. Trade reference prices of HMS 80:20 stand at INR 41,000/t and attachment scrap at INR 42,000/t on ex-yard basis. However, disparity between bids and offers was also seen.
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