India: Melting scrap prices surge by INR 3,200/t w-o-w in Alang

Alang’s (Gujarat) shipbreaking scrap prices increased by INR 1,300/t today d-o-d, SteelMint reports. HMS (80:20) prices stand at INR 46,000/t, while attachment prices stand at INR 47,000/t, on exy basis. The sharp increase in steel billets and finished steel prices in the spot market resulted in the hike scrap offers today. On a w-o-w basis, prices are up by INR 3,200/t.