India: Melting scrap prices increase by INR 300/t d-o-d in Alang, Gujarat

Ship-breaking melting scrap prices in Gujarat’s Alang market rose by INR 300/t d-o-d on 15 Feb’23. As per SteelMint’s assessment, HMS (80:20) prices stand at INR 38,800/t ex-yard. An uptick in semi-finished steel prices in yesterday’s trading session and moderate demand for scrap from the induction furnace steel mills in Bhavnagar supported scrap offers.