India: Melting scrap prices in Alang remain stable for 3rd consecutive day
Ship-breaking melting scrap prices in Alang, Gujarat, remained stable for the third consecutive day on 18 Oct'24. According to BigMint's assessment, HMS (80:20) prices were at INR 34,500/t ($410/t) ex-yard. Average trade was observed for semi-finished and finished steel yesterday in the region. Additionally, moderate buying inquiries for scrap by Bhavnagar-based IF steel mills prompted suppliers to keep their offers stable today.