India: Alang’s scrap prices remain unchanged d-o-d as buyers remain cautious

• Gujarat buyers expect post-Navratri scrap price recovery
• Mandi scrap prices fall INR 700/t as mills limit purchases

Alang’s ship-breaking melting scrap prices (HMS 80:20) remained stable d-o-d at INR 36,800/tonne (t) ($387/t) ex-yard on 14 October 2026. However, persistent weakness in downstream steel markets continued to weigh on buyer sentiment. Declining billet and rebar prices across Gujarat and Mandi reinforced expectations of further price corrections, prompting buyers to remain cautious about fresh procurement. Trading activity was subdued, with buyers prioritising immediate requirements over inventory building amid uncertainty over near-term price direction.

With domestic steel prices under pressure, buying interest is likely to remain selective until downstream demand improves or price direction becomes clearer.

Gujarat market update

In Gujarat, billet prices at Bhavnagar declined by INR 500/t d-o-d to INR 45,500/t DAP on 14 October, while rebar prices in Ahmedabad fell by INR 300/t to INR 52,200/t ex-works. Finished steel demand was subdued across the region, weighing on market sentiment and limiting mills’ ability to absorb higher scrap costs. However, some buyers anticipate a recovery in scrap prices after Navratri, expecting improved demand and market activity after the festival ends.

Mandi market update

In Mandi Gobindgarh, billet prices fell by INR 700/t d-o-d to INR 46,500/t DAP on 14 October. HMS prices also declined by INR 700/t to INR 37,500/t DAP, while rebar prices decreased by INR 500/t to INR 52,200/t ex-works.
Major buyers remained largely absent from active procurement, while mills adopted a highly selective approach, limiting scrap purchases to immediate, need-based requirements. Weak finished steel realisations and declining billet prices continued to pressure mill margins, reinforcing cautious buying and keeping the market under downward pressure.