India: CR busheling scrap prices rise at leading automaker’s auction

• Gurgaon auction prices increase by INR 1,500-1,600/t m-o-m
• Strong buying interest supports higher bids across north India

A leading Indian four-wheeler manufacturer auctioned 5,300 t of low-manganese CR busheling scrap from its Gurgaon, Haryana plant on 25 September 2026. The material cleared at INR 41,000-41,200/t ex-works, marking an increase of INR 1,500-1,600/t compared with the 27 August auction, which closed at INR 39,400-39,600/t ex-works.

The sharp rise in clearing prices reflects stronger buying interest from alloy steelmakers in the northern region. Secondary steel and scrap markets have also trended firmer over the last few weeks of September 2026, supporting higher bid levels in major OEM auctions.

Northern scrap prices strengthen

BigMint’s price assessment for CR busheling loose scrap in Ludhiana stood at INR 43,200-43,400/t DAP as of 30 September, with bundled scrap trading at a premium of INR 300-500/t over loose material. Month-on-month, prices in the region advanced by around INR 2,830/t.

In the past few days, approximately 3,000 t of CR busheling loose scrap was booked at INR 43,100-43,700/t DAP, indicating sustained buying interest and firm sentiment in the northern scrap market.

Another OEM based in Manesar, Haryana, auctioned around 800 t of CR busheling scrap, which fetched bids of approximately INR 41,000/t ex-plant. Bids increased by around INR 2,000/t compared with last month’s auction, reflecting continued strength in northern scrap demand.

Automotive demand supports sentiment

Improved automotive demand provided additional support to scrap market sentiment. Vehicle registrations increased approximately 45% y-o-y during the first three weeks of September, driven by festive-season stocking and a favourable base effect. Passenger vehicle registrations rose 41%, while two-wheeler registrations surged 91%.

Major automobile manufacturers also reported higher wholesale sales during September. Stronger vehicle sales supported expectations of sustained manufacturing activity, although the extent of additional scrap demand from the automotive sector remains unquantified.

Outlook

CR busheling scrap prices in northern India may remain supported in October if strong procurement activity continues and automotive demand sustains its momentum. However, further price increases will depend on buyers’ willingness to absorb higher scrap costs and continued demand from alloy steelmakers.