Melting scrap prices in Alang fell by INR 800/t today and INR 2,300/t on a weekly basis. HMS (80:20) prices are at INR 37,500/t while attachment scrap prices stand at INR 38,500/t. Semi-finished steel prices fell sharply by INR 1,100-1,200/t in yesterday’s trading session which resulted in a decline in scrap offers today, SteelMint notes.
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