- Ahmedabad rebar prices increase by INR 100/t d-o-d
- Mandi scrap prices remain steady amid slow demand
Ship-breaking melting scrap (HMS 80:20) prices in Alang, Gujarat, increased by INR 200/t d-o-d to INR 37,200/t ($391/t) ex-yard on 10 September 2026. Buying activity remained cautious, with mills continuing to follow a need-based procurement approach.
Despite limited buying interest, Alang scrap prices increased as spot availability remained relatively tight. Suppliers were reluctant to lower offers, while the absence of sufficient competitively priced material allowed sellers to maintain or raise asking prices. The increase therefore appears to be supply-driven rather than a reflection of stronger underlying demand.
Gujarat market update
In Gujarat, Bhavnagar billet prices remained stable d-o-d at INR 45,600/t, while Ahmedabad rebar prices increased by INR 100/t to INR 50,700/t ex-works. Buying interest remained cautious despite the movement in finished steel prices.
Mandi market update
In Mandi Gobindgarh, HMS 80:20 scrap prices remained stable d-o-d at INR 38,300/t, while billet prices held at INR 46,500/t. Rebar prices also remained unchanged at INR 51,600/t ex-works.
Mandi’s secondary steel market remained steady amid thin trade and cautious buying. Scrap arrivals from neighbouring regions remained adequate, while finished-steel demand stayed moderate to slow. Melting units remained comfortable with inventories and were reluctant to raise offers, while buyers remained unwilling to chase prices in the absence of fresh enquiry-to-order conversion.
Outlook
The scrap market is expected to remain largely stable in the near term. While limited availability in Alang may provide some price support, cautious buying and adequate scrap arrivals in consuming markets are likely to limit further gains. Mills are expected to continue need-based procurement, with the market direction depending largely on finished-steel demand and fresh order conversion.
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