- Sellers hold prevailing offers despite limited buying activity
- Mandi scrap, billet prices drop, Gujarat remains relatively firm
Ship-breaking melting scrap (HMS 80:20) prices in Alang, Gujarat, remained stable d-o-d at INR 36,500/t ($387/t) ex-yard on 5 September 2026. The market remained steady following the festival period, with sellers continuing to offer material at prevailing levels while buying activity remained very limited. Market participants are hoping for an improvement in demand and a revival in trading activity in the coming week.
Gujarat market update
In Gujarat, Bhavnagar billet prices increased by INR 200/t d-o-d to INR 45,200/t, while Ahmedabad rebar prices remained unchanged at INR 50,200/t ex-works on 3 September 2026. The mixed movement in semi-finished and finished steel prices reflects cautious market sentiment, with downstream demand yet to show a meaningful recovery.
Mandi market update
In Mandi Gobindgarh, HMS 80:20 scrap prices declined by INR 500/t d-o-d to INR 38,400/t, while billet prices decreased by INR 150/t to INR 46,350/t. Rebar prices, however, remained stable at INR 51,500/t ex-works.
The decline in scrap and billet prices in Mandi indicates weaker buying sentiment compared with Gujarat, while stable rebar prices suggest that downstream demand remains subdued.
Outlook
The Alang scrap market is expected to remain stable in the near term, with post-festival buying activity likely to remain subdued. Sellers are expected to hold current offers, while limited buying interest may keep transaction volumes low. Market participants are likely to monitor demand recovery in the coming week before taking fresh positions, keeping prices largely range-bound in the near term.
Leave a Reply