India: Melting scrap prices increase by INR 500/t d-o-d in Alang
Ship-breaking melting scrap prices in Gujarat's Alang market rose by INR 500/t d-o-d on 9 Nov'24, as per BigMint's assessment. HMS (80:20) prices stood at INR 35,000/t ($415/t) exy. Semi-finished steel prices increased by INR 800-900/t in the region during yesterday's trading session. This surge, along with active buying inquiries for scrap by Bhavnagar-based IF steel mills, prompted suppliers to raise their offers today.