The melting scrap prices at Alang's ship-breaking remained relatively stable over the past two trading sessions, largely reflecting cautious sentiment among suppliers and a moderate level of activity in semi-finished and finished steel. In response to the demand for scrap materials and a moderate demand for semi-finished and finished steel, the price increased by a modest ₹200 per ton to ₹ 30,000/ton in the previous session on 27 October. Demand for scrap has supported suppliers in their pricing offers.

However, on 28th October, the prices edged down by ₹100/ton, assessed at ₹ 29,000 per ton. Despite a firm tone in semi-finished and finished steel prices during the previous session, overall trade activity remained modest. The limited buying momentum for scrap caused suppliers to adjust their offers down slightly.

Outlook: