Alang’s shipbreaking scrap prices moved down by INR 100/t, d-o-d, as per SteelMint assessment. HMS (80:20) prices are assessed at INR 35,600/t, while attachment scrap prices stand at INR 36,600/t. Market participants were expecting a price correction by around INR 200-300/t in line with considerable contraction in semi-finished steel prices during the previous day’s closing. Consistent demand and supply mismatch are supporting scrap prices, trader sources informed.
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