Ship-breaking scrap prices in Alang continue to trade within a range between ₹32,000-₹31,500 per tonne, as a result of cautious buying sentiment. However, there has been a sharp fall of ₹2500-₹2700 per tonne on a weekly basis. Demand for ship-breaking scrap has been moderate from Bhavnagar mills throughout the last week, thus supporting ship-breaking scrap prices and preventing further price drops during the week. The lack of new orders suggests many market participants are being cautious with their buying and are likely to continue to monitor the situation.

Looking ahead, expectations are that boat-breaking scrap prices may remain constrained in a relatively wide range because of on-going pressure on the margins of steel mills due to weakness in the price of finished and semi-finished steel. Nonetheless, downside risks to the ship-breaking market continue to be limited, unless significant further downward movement occurs for steel prices or steel mill demand, therefore creating excess ship-breaking supply