Shipbreaking melting scrap prices in Gujarat’s Alang market dropped INR 500/t d-o-d on 3 Dec’22. HMS (80:20) prices are assessed at INR 39,000/t exy. Downward correction was seen in semi-finished steel prices in north India and limited buying enquiries for scrap due to weak sentiments in the spot market. These factors prompted scrap suppliers in the region to reduce offers.
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