India: Alang scrap prices extend recovery amid regional steel market gains

• Bhavnagar billet prices rise, Ahmedabad rebar remains stable
• Mandi records gains across scrap, billet, rebar benchmarks

Alang’s ship-breaking melting scrap prices (HMS 80:20) increased by INR 200/tonne (t) d-o-d to INR 38,000/t ($402/t) ex-yard on 21 October 2026. Prices strengthened following the Dussehra holiday on 20 October, while the latest assessment also remained above the level recorded on 19 October, indicating a gradual recovery in the market.

The upward movement in regional steel prices has improved price support for scrap, although the sustainability of the recovery will depend on downstream demand and mills’ willingness to procure at higher levels.

Gujarat market update

In Gujarat, billet prices at Bhavnagar increased by INR 1,000/t to INR 46,500/t DAP on 19 October, reflecting improved price support in the semi-finished steel segment. However, rebar prices in Ahmedabad remained stable at INR 52,600/t ex-works, indicating that the gains have yet to translate into a broad-based recovery across finished steel products. The mixed price trend suggests that market sentiment is improving, although sustained scrap price gains will depend on stronger finished steel demand and consistent buying activity from mills.

Mandi market update

In Mandi Gobindgarh, billet prices rose by INR 600/t to INR 47,000/t DAP on 19 October, while HMS 80:20 prices increased by INR 450/t to INR 37,550/t DAP. Rebar prices edged up by INR 200/t to INR 52,000/t ex-works.

The concurrent increase in scrap, billet and rebar prices points to improved price support in Mandi. However, sustained gains in scrap will depend on whether finished steel demand translates into stronger procurement activity.