Author: Piyush S Verma
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India: Melting scrap prices increase by INR 200/t in Alang, Gujarat
Melting scrap prices in Alang increased today by INR 200/t. Active buying enquires for scrap by the IF units based at Bhavnagar, Gujarat, and rising prices of semi-finished and finished steel in the spot market were the key factors strengthening prices. Notably, the conversion spread from HMS(80:20) to ingot hovered around INR 11,500/t yesterday.