India: Melting scrap prices fall by INR 500/t d-o-d in Alang
Ship-breaking melting scrap prices in Gujarat's Alang market decreased by INR 500/t d-o-d on 9 Jan'25. According to BigMint's assessment, HMS (80:20) prices stood at INR 33,500/t ($390/t) ex-yard. Following a period of limited trade in semi-finished and finished steel, prices in the region decreased. Average trade activity in scrap further dampened market sentiment, prompting suppliers to reduce their offers today.