India: Melting scrap prices fall by INR 300/t in Alang

Alang’s (Gujarat) ship-breaking scrap prices dropped today by INR 300/t d-o-d except in few sizes. HMS (80:20) prices are assessed at INR 41,500/t exy, while attachment prices stand at INR 42,500/t exy. Scrap prices dropped owing to limited procurement by IF-mills at Bhavnagar along with weak buying enquiries in semi-finished steel in late hours of yesterday’s trading session, SteelMint learned.