India: Melting scrap prices decrease by INR 500/t in Alang

Melting scrap prices in Gujarat’s Alang dropped further by INR 500/t. The trade reference price for Heavy Melting Scrap (HMS 80:20) is assessed at INR 37,700-37,900/t, while attachment scrap prices stand at INR 38,700-38,900/t. Limited transactions in the semi-finished steel market on 20 Nov’21 and lack of demand for finished steel have led to the fall in scrap prices, SteelMint notes.