India: Melting scrap prices climb INR 700/t d-o-d in Alang
Ship-breaking melting scrap prices in Gujarat's Alang market rose INR 700/t d-o-d on 1 Jan to INR 33,000/t ($367/t) ex-yard, per BigMint's assessment. The regional steel market saw active inquiries for scrap, driven by positive sentiment from the government's new safeguard duty on key flat steel products. Local scrap suppliers resisted lower bids from buyers, opting to hold material rather than sell at discounted levels.