Shipbreaking melting scrap prices in Gujarat’s Alang market increased by INR 400/t d-o-d. HMS (80:20) prices are assessed at INR 40,400/t exy. Semi-finished steel prices fell yesterday but during the late trading hours a slight improvement in prices was observed, which led scrap suppliers to increase their offers marginally. Till yesterday, the conversion spread from Alang scrap to ingot in Bhavnagar was hovering around INR 7,000/t.
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