Ship-breaking melting scrap prices in Gujarat’s Alang fell by INR 700/t d-o-d on 16 Sept, as per SteelMint assessment. Prices of HMS (80:20) are assessed at INR 43,000/t exy. The conversion spread from scrap (bought from Alang) to ingots has lowered to around INR 6,000/t while the required conversion is INR 7,500-8,000/t. This resulted in a drop in prices today.
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