Alang’s shipbreaking scrap prices witnessed a minor correction, day-on-day, as per SteelMint assessment. HMS (80:20) was assessed at INR 35,900-36,000/t, while attachment scrap prices stood at INR 36,900-37,000/t. Low bids from surrounding locations were observed, mainly from Bhavnagar-based induction furnaces that lowered their bids by INR 500-700/t to maintain conversion spread from melting scrap to semi-finished steel (ingot, billet). The margin is currently hovering at INR 8,200-8,600/t (+/-200-300/t).
Leave a Reply