Shipbreaking melting scrap prices in Alang rose by INR 1,500/t d-o-d on 4 Mar’22. HMS (80:20) prices stand at INR 47,500/t exy. Consistent rise in steel billet prices in the spot market owing to moderate bookings by the mills at Bhavnagar, Gujarat, resulted in strenghtining of scrap offers. The conversion spread from melting scrap to ingot in Bhavnagar hovered around at INR 12,000/t till yesterday.
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