- Bhavnagar billet prices post biggest d-o-d gain of INR 800/t
- Mandi scrap, steel prices rise, improving market sentiment
Alang’s ship-breaking melting scrap prices (HMS 80:20) increased by INR 500/tonne (t) d-o-d to INR 37,300/t ($393/t) ex-yard on 15 October 2026. The increase reflects a recovery in regional steel prices, which has improved seller confidence and reduced pressure to lower offers. However, the durability of the rebound will depend on whether mills sustain procurement at higher price levels rather than limit purchases to immediate requirements.
Gujarat market update
In Gujarat, billet prices at Bhavnagar rose by INR 800/t d-o-d to INR 46,300/t delivered-at-plant (DAP) on 14 October, while rebar prices in Ahmedabad increased by INR 400/t to INR 52,600/t ex-works. The gains have strengthened price expectations among market participants and improved support for scrap values. However, sustained recovery will depend on finished steel sales and mills’ ability to pass higher input costs through to buyers. Any mismatch between rising offers and actual demand could limit further gains.
Mandi market update
In Mandi Gobindgarh, billet prices increased by INR 500/t d-o-d to INR 47,000/t DAP on 14 October. HMS prices rose by INR 400/t to INR 37,900/t DAP, while rebar prices gained INR 300/t to INR 52,500/t ex-works. The parallel increase in scrap and steel prices indicates firmer market sentiment, with sellers gaining some leverage in price negotiations.
Nevertheless, the recovery remains dependent on improved downstream demand and consistent mill buying. If finished steel sales remain subdued, buyers may resist further increases and keep procurement focused on immediate requirements.
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