Shipbreaking melting scrap prices surged INR 1,500/t d-o-d on 28 Feb’22, continuing its all-time high streak, as per SteelMint assessment. HMS (80:20) prices are assessed at INR 44,000/t, while attachment scrap prices stand at INR 45,000/t exy. Scrap prices witnessed a sudden hike due to rising billet and finished steel prices in the spot market as well as shortage of scrap, which prompted the suppliers to increase offers.
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