Ship-breaking melting scrap prices fell further by INR 500/t d-o-d in Gujarat’s Alang on 11 Nov’22. As per SteelMint assessment, HMS (80:20) prices are assessed at INR 37,500/t exy. A sharp drop in semi-finished steel prices in Gujarat market, along with lower bids for scrap and fewer transactions in yesterday’s session weighed on scrap offers today.
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