India: Melting scrap prices drop by INR 200/t d-o-d in Alang
Ship-breaking melting scrap prices in Gujarat's Alang market fell by INR 200/t d-o-d today, as per SteelMint's assessment. HMS (80:20) prices were assessed at INR 35,300/t exy. Market participants appeared cautious due to the fluctuating steel prices and the absence of trades in semi-finished steel. Additionally, the difference between bids and offers for scrap led suppliers to reduce their offers.