India: Melting scrap prices drop by INR 300/t d-o-d in Alang
Ship-breaking melting scrap prices in Gujarat's Alang market decreased by INR 300/t d-o-d on 24 Oct'24. According to BigMint's assessment, HMS (80:20) prices stood at INR 33,000/t ($393/t) ex-yard. In yesterday's trading session, limited transactions were observed amid muted demand for semi-finished and finished steel. This, combined with average scrap trade, led suppliers to adjust their offers downward.