Melting scrap HMS (80:20) grade prices in Alang remained stable on a d-o-d basis and were assessed at ₹30,000 per tonne. On a weekly basis, the prices have been down by ₹500 per tonne from ₹30,500 per tonne on 10th October.  While last week's pricing is marginally down, the current pricing remains fairly stable, given the consistent availability of ship-breaking material and steady yard activity. Suppliers held their offers firm amid limited fluctuations in local demand and steady cost conditions.

Outlook:

It has been anticipated that the prices will remain neutral in the short term. Trade volumes in semi-finished and finished steel products were reported to be average, with prices showing little to no movement. As long as the demands and input costs don't shift substantially, prices are expected to stay in a narrow range in the days ahead, barring a change in domestic steel market dynamics or global scrap.