Melting scrap price, Alang experienced an increase in the price, reflecting better market conditions. On 17th February 2026, the price of HMS (80:20) was assessed at ₹33,300/ton and continued to increase week to week due to more buying and stronger semi-finished and finished product steel prices. The week from February 18 to February 22 saw incremental increases in the price by ₹50 to 100/ton, all due to increased mill activity, as well as the spike increase between ₹100 to 200/ton in the previous sessions for steel prices. Although there was improvement in market activity, there was also intermittent wait-and-watch sentiment, limiting further increases in the middle of the week.

On 23rd February, there was a daily increase of ₹200/t. The price for HMS (80:20) climbed to ₹33,700/t, following both active trading and strong mill inquiry. Thus, by 24th February, there has been an overall increase of ₹400/t.

Outlook:

The market is expected to continue to be positive and will depend on continued support from finished steel prices.

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