India: Melting scrap prices decrease by INR 1,300/t in Alang

Melting scrap prices in Gujarats Alang market have dropped by INR 1,300/t on 22 Nov’21. The trade reference price for heavy melting scrap (HMS 80:20) is assessed at INR 36,500/t, while attachment scrap prices stand at INR 37,500/t. Low volume of transactions and dull buying enquiries in the semi-finished steel market led to the correction in scrap offers today, SteelMint notes.