Ship-breaking melting scrap prices in Gujarat’s Alang market increased by ₹200 per ton on a d-o-d basis to ₹33,500 per ton as on 7th February 2026. This follows a gradual increase from ₹32,800 per tonne on 2nd February. This increase in price has been supported by improved trade activity in semi-finished steel, and along with it there were decent buying inquiries for scrap, which helped in raising offers. Moreover, prices had shown mixed trends, remaining relatively steady around ₹33,500 per tonne in mid-January, after dipping to nearly ₹31,800 per tonne around the start of the month amid weak demand.

Outlook

The near-term outlook remains range-bound to slightly positive, backed by stable demand from mills and improved downstream steel movement. However, further price upside may be capped by steel market sentiment. Sustained momentum with inventories of finished and semi-finished steel, it could provide price stability at current ranges; but should demand slow down, it will limit future price increases.