India: Melting scrap prices improves by INR 200/t in Alang

Melting scrap prices in Gujarat’s Alang recovered by INR 200/t on 26 Nov’21. The trade reference price for heavy melting scrap (HMS 80:20) is assessed at INR 36,500/t, while attachment scrap prices stand at INR 37,500/t. Market participants were expecting a mild correction in line with semis’ price was corrected considerably, SteelMint notes