India: Alang scrap prices remain stable d-o-d amid mixed steel market signals

• Alang scrap buyers remain cautious, engage in need-based purchases
• Mandi steel prices decline, while Ahmedabad rebar rises

Alang’s ship-breaking melting scrap prices (HMS 80:20) remained stable d-o-d at INR 37,300/tonne (t) ($393/t) ex-yard on 16 October 2026. Despite the recent recovery in scrap prices, buying interest remains cautious amid uncertainty over the direction of the steel market. Buyers continue to prioritise immediate requirements over inventory building, limiting the scope for further price increases.

Gujarat market update

In Gujarat, Bhavnagar billet prices declined by INR 100/t d-o-d to INR 46,200/t delivered-at-plant (DAP) on 15 October. In contrast, Ahmedabad rebar prices increased by INR 300/t to INR 52,900/t ex-works. The divergence reflects uneven price support across the regional steel market. However, subdued demand for finished steel continues to limit buying confidence, with market participants likely to remain selective in procurement until consumption improves.

Mandi market update

In Mandi Gobindgarh, billet prices fell by INR 400/t d-o-d to INR 46,600/t DAP on 15 October. HMS prices declined by INR 400/t to INR 37,500/t DAP, while rebar prices decreased by INR 300/t to INR 52,200/t ex-works.

The simultaneous decline in scrap and finished steel prices highlights persistent weakness in the regional market. Limited finished-steel offtake and adequate inventory coverage are keeping mills cautious, with procurement largely restricted to immediate requirements. Lower billet realisations are also reducing mills’ ability to absorb higher scrap costs, adding pressure on scrap prices.