Shipbreaking melting scrap prices in Gujarat’s Alang market declined sharply by INR 4,000/t d-o-d. The steep fall in semis, finished steel and scrap prices resulting from the hike in export duty on iron ore, pellets and steel turned buyers (the induction furnace mills in Bhavnagar) away from the market. This impacted scrap prices in the region, SteelMint notes.
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