India: Alang’s melting scrap prices remain stable d-o-d despite subdued buying

• Wide offer-bid disparities continue to limit spot transactions
• Mixed trends across steel markets keep scrap sentiment cautious

Ship-breaking melting scrap prices in Alang, Gujarat, remained stable d-o-d at INR 38,500/t ($401/t) ex-yard on 16 September 2026. Despite largely stable steel prices across key consuming markets, scrap buying remained subdued, with buyers largely unwilling to chase higher offers. A wide gap between seller expectations and buyer bids continued to limit spot transactions. Sellers are holding offers at current levels, while buyers remain focused on securing material at workable prices, keeping the market firm on the offer side but subdued in terms of actual trade.

Gujarat market update

In Gujarat, Bhavnagar billet prices decreased by INR 200/t d-o-d to INR 47,300/t on 15 September, while Ahmedabad rebar prices remained stable d-o-d at INR 52,100/t ex-works.

The mixed movement in Gujarat reflects a cautious trading environment. The decline in billet prices and stability in rebar have provided limited support for further increases in scrap offers. Market participants continued to report low trading activity, with buyers remaining selective and unwilling to chase higher scrap prices. The wide gap between seller offers and buyer bids continues to restrict spot transactions.

Mandi market update

In Mandi Gobindgarh, HMS 80:20 scrap prices edged up by INR 100/t d-o-d to INR 40,000/t, while billet prices increased by INR 200/t to INR 48,100/t. Rebar prices remained stable d-o-d at INR 53,200/t ex-works.

The modest recovery in scrap and billet prices indicates some stabilisation in the secondary steel market following the recent correction. However, buying interest remains measured as market participants continue to assess prices after the sharp gains seen over the previous few days. Stable rebar prices also provide limited room for aggressive procurement, keeping mills focused on immediate requirements.

Outlook

Alang scrap prices are likely to remain largely stable in the near term. Stable-to-firm steel prices may keep sellers’ offers supported, but subdued buying and the wide offer-bid gap are likely to limit meaningful price gains until procurement activity improves.