India: Melting scrap prices inch up INR 200/t d-o-d in Alang

Ship-breaking melting scrap prices in the Gujarat’s Alang market edged up by INR 200/t d-o-d on 24 Mar’23. As per SteelMint’s assessment, HMS (80:20) prices stand at INR 39,000/t exy. An increase in semi-finished steel prices in the northern region and active scrap buying by Bhavnagar-based induction furnace mills prompted suppliers to raise offers.