India: Alang scrap prices remain stable as buyers maintain cautious stance

• Gujarat billet prices rise, while rebar remains stable
• Mandi billet and rebar prices were broadly unchanged

Alang’s ship-breaking melting scrap prices for HMS 80:20 remained unchanged d-o-d at INR 38,500/tonne (t) ($400/t) ex-yard on 7 October 2026.

Market activity remained subdued, with buyers continuing to adopt a cautious procurement approach. Despite firmer scrap prices in some domestic markets, buying interest at Alang remains closely linked to downstream steel demand and prevailing finished steel prices.

Gujarat market update

In Gujarat, Bhavnagar billet prices increased by INR 500/t d-o-d to INR 48,000/t DAP, while Ahmedabad rebar prices remained stable at INR 53,300/t ex-works.

The rise in billet prices provided some support to the secondary steel market, although stable rebar prices and limited trading activity continued to constrain broader price momentum.

Mandi market update

In Mandi Gobindgarh, billet prices remained largely stable at INR 48,700/t DAP. HMS melting scrap prices increased by INR 100/t to INR 40,000/t DAP, while rebar prices remained unchanged at INR 53,600/t ex-works.

The firmer scrap market contrasted with broadly stable semi-finished and finished steel prices, indicating some improvement in scrap replacement costs despite limited market activity.

Outlook

Secondary steel mills are anticipating upward price movement in the near term following price-hike announcements by primary steel producers. However, the extent to which higher primary steel prices are transmitted through the value chain will depend on downstream demand, mill operating rates and the willingness of buyers to replenish scrap inventories.

Near-term price direction is therefore likely to remain demand-driven, with stronger finished steel offtake and improved scrap procurement providing the clearest support for further gains.