Ship-breaking melting scrap prices in Gujarat’s Alang market dropped by INR 400/t d-o-d on 9 Dec. According to BigMint’s assessment, HMS (80:20) prices stand at INR 30,800/t ($342/t) ex-yard. The decline was driven by INR 200-300/t corrections in semi-finished and finished steel prices due to weak trading activity. In addition, average demand for scrap from IF mills encouraged suppliers to lower their offers during today’s session.
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