Ship-breaking melting scrap prices in Alang, Gujarat, remained stable d-o-d today. HMS (80:20) prices are assessed at INR 42,000/t exy. Limited buying inquiries for semis in yesterday’s session and decent scrap bookings at current price levels prompted suppliers to keep offers stable. However, on account of PM Modi’s two-day visit to Gujarat, the market will almost remain close today which could impact ship-breaking prices.
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