India: Alang’s shipbreaking scrap prices remain largely stable

Alang’s shipbreaking scrap prices are largely stable, as per SteelMint assessment. While heavy melting scrap or HMS (80:20) was assessed at INR 36,500/t, attachment scrap stood at INR 37,400-37,500/t. Regular transactions were reported with a slight variance in bids to the tune of INR 100-200/t in both the melting and attachment categories. Semi-finished steel trading volumes yesterday were adequate enough to support ship scrap selling offers. A few deals for roughly half a kg of scrap (almost 98% recovery rate) were reported at INR 37,400/t for Kandla, with freight charges standing at INR 1,200-1,400/t, market participants informed.