India: Ship-breaking scrap prices rise by INR 200/t d-o-d on firm mill buying

• Gujarat steel market remains largely stable d-o-d
• Mandi steel demand stays cautious amid monsoon

Ship-breaking melting scrap (HMS 80:20) prices in Alang, Gujarat, increased by INR 200/t d-o-d to INR 34,000/t ($355/t) ex-yard on 18 August 2026 and the rise came as secondary steel mills maintained steady procurement amid firm raw material requirements.

Gujarat market update

Bhavnagar billet prices remained unchanged d-o-d at INR 41,600/t DAP, while Ahmedabad rebar prices were stable at INR 46,400/t ex-works on 17 August. Gujarat’s steel market remained largely steady, with mills maintaining need-based procurement amid cautious downstream demand. Scrap availability was relatively balanced, although some grade-specific tightness continued to support raw-material prices.

Buyers remained selective on fresh bookings and closely monitored finished-steel offtake and mill realisations, limiting scope for a broad-based price increase. Monsoon-related softness in construction activity also kept rebar demand subdued, while firm scrap costs provided underlying support to semi-finished and finished steel prices.

Mandi market update

In Mandi Gobindgarh, HMS 80:20 prices remained unchanged at INR 35,600/t DAP. Billet prices were also largely stable at INR 42,500/t, indicating limited movement in semi-finished steel despite firm scrap costs.

Rebar prices, however, increased by INR 100/t d-o-d to INR 47,400/t. Prices of long products increased, as steady scrap costs and selective restocking provided support, although construction-linked demand remained cautious due to monsoon-related softness.

Outlook

The near-term market is expected to remain largely firm, with scrap availability and mill procurement providing a floor to prices. However, subdued construction activity during the monsoon and cautious downstream buying could limit further gains. Any improvement in finished-steel demand and mill realisations would strengthen the upside for scrap prices.

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