Heavy melting scrap (HMS 80:20) suppliers in Gujarat’s Alang increased prices marginally today by INR 100/t to INR 36,600/t exw. Suppliers increased the price owing to marked improvement in market sentiments. However, low margins, lower bids due to the effort to recover the losses incurred as a result of curtailed production by the IF units in Bhavnagar, and limited trades and buying enquiries for semis and finished steel, may keep scrap prices under pressure, sources informed.
Leave a Reply