Shipbreaking melting scrap prices decreased further by INR 1,500/t d-o-d, as per SteelMint assessment. HMS (80:20) prices are assessed at INR 45,500/t exy. Subdued demand, the lack of buying enquiries as well as slow trades in steel billets and scrap weighed on prices. Weak market sentiments prevailed in Alang, with prices dropping by INR 3,000/t over the last three days, which forced suppliers to reduce offers today.
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