- Stronger steel prices and improved buying support scrap market
- Mandi sees renewed procurement after long period of inactivity
Ship-breaking melting scrap (HMS 80:20) prices in Alang, Gujarat, increased by INR 100/t d-o-d to INR 37,300/t ($390/t) ex-yard on 11 September 2026. Market sentiment improved as steel prices rose sharply across key consuming markets, encouraging mills to step up procurement after a prolonged period of cautious buying.
Gujarat market update
In Gujarat, Bhavnagar billet prices increased sharply by INR 900/t d-o-d to INR 46,500/t, while Ahmedabad rebar prices rose by INR 500/t to INR 51,200/t ex-works. The sharp gains in both semi-finished and finished steel prices reflect a clear improvement in market sentiment, with stronger buying interest and better order flow supporting the upward movement. The rise in steel prices is also improving mills’ ability to absorb higher raw-material costs.
Mandi market update
In Mandi Gobindgarh, HMS 80:20 scrap prices increased by INR 300/t d-o-d to INR 38,600/t, while billet prices rose by INR 300/t to INR 46,800/t. Rebar prices also increased by INR 200/t to INR 51,800/t ex-works.
Both raw-material and finished steel segments saw improved buying interest after a prolonged pause. Scrap procurement picked up noticeably, while the broad-based increase in billet and rebar prices indicates stronger downstream order flow and a near-term turnaround in market sentiment.
Outlook
The market is expected to remain firm in the near term, supported by sharply higher steel prices, improved procurement and stronger downstream sentiment. If the improvement in order flow is sustained, scrap demand could remain healthy and provide further support to prices.
Leave a Reply