In Alang, the scrap price for ship melting moved slightly lower by ₹200-300 per tonne in early September, with the price at ₹31,100 per tonne. The trend was clearly influenced by slow trading activity and minimal demand input from local integrated steel mills, prompting suppliers to drop their offers. Semi-finished steel prices were also down by ₹300 - 400 per tonne, reflecting overall soft market sentiment with just limited transactions in recent weeks.

Outlook:

Despite the short-term pressures, the narratives are moderately positive, and expect that the market will stabilize and prices will move upward, as demand for scrap steel increases.