Shipbreaking melting scrap prices declined by INR 1,500/t d-o-d in Gujarat’s Alang, as per SteelMint assessment. HMS (80:20) prices are assessed at INR 47,000/t exy. The sharp drop in semi-finished steel prices and lower bids for scrap along with low trade volumes in the spot market exerted pressure on scrap suppliers in the region to reduce offers.
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