Shipbreaking melting scrap prices in Gujarat’s Alang market dropped INR 300/t d-o-d on 31 Oct’22. HMS (80:20) prices are assessed at INR 40,500/t exy. A sharp correction was seen in semi-finished steel prices in western 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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