Shipbreaking melting scrap prices in Alang, Gujarat, declined by INR 700/t d-o-d, as per SteelMint assessment. HMS (80:20) prices are assessed at INR 49,000/t exy. Lack of buying enquiries and the sharp fall in semis prices as well as dull trading in finished steel due to the festive holidays were the key factors. Scrap suppliers reduced offers in the spot market owing to weak sentiments.
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