Melting scrap prices in Alang, Gujarat dropped INR 300/t today. HMS (80:20) prices are assessed at INR 40,100/t, while attachment prices stand at INR 41,100/t exy. Correction in steel billet prices and the lack of active transactions in yesterday’s trading session led to the decline in scrap offers today. The conversion spread from scrap to ingot in the region is around INR 9,000/t.
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