Heavy melting scrap (HMS 80:20) suppliers in the Alang region of Gujarat have increased prices marginally by INR 100/tonne to INR 36,600/tonne exw today.
Suppliers increased the price due to the marked improvement in market sentiment. However, lower margins, lower offers and limited trading and inquiries to buy semis and finished steel may keep scrap prices under pressure, sources said, as IF units in Bhavnagar strive to compensate for losses incurred due to limited production.
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