Shipbreaking melting scrap prices in Gujarat’s Alang market dropped INR 500/t d-o-d on 9 Jun’22. HMS (80:20) prices are assessed at INR 40,000/t exy. A downward correction was observed in semi-finished steel prices yesterday as well as low buying inquiries 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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