India: Alang ship-breaking scrap prices plummet to two-year low amid import influx

Ship-breaking melting scrap prices in Gujarat's Alang market fell by INR 300/t to INR 35,700/t d-o-d today. Today, Alang shipbreaking melting scrap prices reached a two-year low. The market saw limited buying inquiries, and according to market sources, "The significant arrival of imported scrap in large quantities at Kandla port, previously booked at lower prices, coupled with liquidity issues, are the major factors contributing to the decrease in prices."