Ship-breaking melting scrap prices in Gujarat’s Alang market dropped sharply by INR 1,000/t d-o-d on 4 Nov’22. HMS (80:20) prices are assessed at INR 38,500/t ex-yard. The steep fall in semis as well as finished steel prices and cheaper imported bulk scrap bookings by induction furnaced mills in Gujarat weighed on domestic scrap prices.
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