- Gujarat steel billet prices rise
- Mandi scrap and billet prices weaken
Alang’s ship-breaking melting scrap prices for HMS 80:20 remained unchanged d-o-d at INR 38,500/tonne (t) ($398/t) ex-yard on 8 October 2026.
Market activity remained subdued, with buyers maintaining a need-based procurement approach. The absence of a clear direction in downstream steel markets continues to limit buying appetite, keeping the market balanced despite movements in other domestic scrap and steel hubs.
Gujarat market update
In Gujarat, billet prices at Bhavnagar increased by INR 200/t d-o-d to INR 48,200/t DAP, while Ahmedabad rebar prices remained stable at INR 53,300/t exw.
A firm billet market provided support to scrap sentiment, but stable rebar prices indicate that downstream demand is yet to show a decisive improvement.
Mandi market update
In Mandi Gobindgarh, billet prices decreased by INR 200/t to INR 48,500/t DAP, while HMS prices declined by INR 200/t to INR 39,800/t DAP. Rebar prices, however, increased by INR 100/t to INR 53,700/t ex-works.
The mixed movement highlights uneven market conditions, with lower raw material values contrasting with a modest increase in finished steel prices. Mill procurement is likely to remain closely linked to immediate production requirements and finished steel offtake.
Outlook
Alang scrap prices are expected to remain rangebound as buyers continue to assess downstream steel demand and procurement viability. Mixed price signals from Gujarat and Mandi, together with cautious buying, are likely to limit the scope for a sustained upward movement in prices unless finished steel demand improves.
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