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India’s domestic armature scrap prices and secondary rod were assessed at INR 670,000/t and INR 710,000/t ex-Delhi (down by up to 1.5%). Reports from the region suggested that severe winter conditions are causing disruptions in daily activities, affecting the normal flow of operations, prompting buyers to wait for further price drop.

Ship – breaking melting scrap prices in Alang. Gujarat, remained stable on d-o-d on 12 Jan’24. As per assessment, HMS (80:20) prices stood at INR 34,200/t exy. Buying inquiries for semi-finished and finished steel remained moderate in yesterday’s trading session in the region, which promoted scrap suppliers to keep offers stable today.