India: Melting scrap prices remain stable for 3rd consecutive day in Alang
India's ship-breaking melting scrap prices in Alang, Gujarat, remained stable for the third consecutive day on 3 Jan'25. According to BigMint's assessment, HMS (80:20) stood at INR 34,300/t ($400/t) ex-yard. Despite rising semi-finished steel prices across the region, mills in Bhavnagar continued to favour domestic scrap due to its lower cost compared to Alang's material. This led suppliers to maintain firm prices.