- Gujarat market sees mixed movement across steel products
- Mandi sentiment improves on stronger spot demand
Ship-breaking melting scrap (HMS 80:20) prices in Alang, Gujarat, increased by INR 200/t day on day to INR 34,700/t ($363/t) ex-yard on 21 August, supported by tight raw-material availability.
Gujarat market update
Gujarat’s steel market remained mixed, with Bhavnagar billet prices declining by INR 200/t d-o-d to INR 42,500/t DAP, while Ahmedabad rebar prices increased by INR 300/t to INR 47,600/t ex-works on 20 August. The divergence suggests relatively better demand for finished steel despite some weakness in semi-finished products.
Improved buying interest in finished steel and tight scrap availability provided underlying support, while mills continued to procure raw materials on a need-based basis.
Mandi market update
In Mandi Gobindgarh, HMS 80:20 scrap prices declined marginally by INR 100/t d-o-d to INR 36,200/t DAP. Billet prices remained stable at INR 43,200/t, while rebar prices increased by INR 100/t to INR 48,000/t.
Market activity was subdued during the first half of the session but improved later as spot demand for semi-finished and finished steel strengthened. Tight scrap availability continued to support prices, although GST-related checks remained a concern for market participants.
Outlook
The near-term market is expected to remain stable to firm, supported by improved finished-steel demand and limited raw-material availability. Mills are anticipating modest price gains during the current week, with firm price trends in neighbouring markets likely to provide additional support.
To provide feedback on this index or if you would like to contribute by becoming a data partner, please contact – support@bigmint.co
Leave a Reply