Shipbreaking melting scrap prices declined by INR 500/t d-o-d in Gujarat’s Alang market on 22 Apr’22. HMS (80:20) prices are assessed at INR 49,000/t exy. Scrap prices decreased due to the lack of trading and low transaction volumes in semis and finished steel which forced suppliers to lower prices in Alang. The conversion spread from scrap to ingot for Bhavnagar mills was around INR 9,900/t yesterday, SteelMint assessment shows.
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