- Weak steel demand weighs on Gujarat, Mandi rebar prices
- Scrap prices firm up on minor supply constraints
Alang’s ship-breaking melting scrap prices (HMS 80:20) increased by INR 300/tonne (t) d-o-d to INR 37,800/t ($399/t) ex-yard on 19 October 2026.Prices edged higher in Alang, driven by a modest supply squeeze and festive-season sentiment, which encouraged suppliers to lift their offers.
Gujarat market
In Gujarat, billet prices at Bhavnagar declined by INR 200/t to INR 45,500/t DAP on 17 October, while rebar prices in Ahmedabad fell by INR 300/t to INR 52,600/t ex-works. The reductions reflected subdued demand for both semi-finished and finished steel in the region. Nevertheless, a gradual price recovery is expected, supported by a slight tightness in scrap availability amid the festive season.
Mandi market update
In Mandi Gobindgarh, billet prices held steady day-on-day at INR 46,400/t DAP on 17 October, while HMS prices remained unchanged at INR 37,100/t DAP. Rebar prices, however, eased by INR 300/t to INR 51,800/t ex-works. The market displayed relative stability across scrap and semi-finished steel segments, whereas the finished steel segment faced mild downward pressure amid softer demand.
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