India: Melting scrap prices surge by INR 500/t d-o-d in Alang
Ship-breaking melting scrap prices in Gujarat's Alang market surged by INR 500/t d-o-d on 26 Sep'24, as per BigMint's assessment. HMS (80:20) prices were assessed at INR 35,200/t ($421/t) exy. In yesterday's trading session, semi-finished steel prices rose INR 500/t in the region. Concurrently, limited scrap supply and strong demand from Bhavnagar-based mills led suppliers to raise their offers today.