- Gujarat’s steel prices mixed as buyers procure selectively
- Mandi scrap remains stable, billet prices drop by INR 100/t
Ship-breaking melting scrap prices in Alang, Gujarat, remained unchanged on 16 July, with HMS (80:20) assessed at INR 34,000/t ($353/t) ex-yard. The market remained supported by constrained availability of processed scrap, which continued to offset cautious procurement by secondary steelmakers. Buying was largely requirement-based, keeping supply-demand fundamentals balanced and preventing any immediate price movement.
Gujarat market update
Downstream steel prices in Gujarat were mixed. Bhavnagar billet prices rose by INR 200/t to INR 40,200/t DAP, supported by modest local trade, while Ahmedabad rebar prices held steady at INR 45,100/t ex-works. The improvement in billet prices lent support to regional scrap sentiment, although overall trading activity remained measured as buyers continued to procure selectively.
Mandi market update
In Mandi Gobindgarh, billet prices eased by INR 100/t to INR 41,800/t DAP, while rebar prices remained unchanged at INR 46,700/t ex-works. HMS (80:20) melting scrap prices were stable at INR 34,000/t DAP despite weaker market sentiment.
The decline in billet prices prompted mills to adopt a cautious approach to scrap procurement. Although GST inspections temporarily slowed scrap arrivals, weaker finished steel demand outweighed supply constraints. Several mills reduced bids, prompting suppliers to reduce prices for certain scrap grades to facilitate sales, while other grades remained unchanged amid limited trading activity.
Outlook
In India, constrained processed scrap availability is expected to keep Alang prices supported, although weak finished steel demand and cautious procurement by secondary steelmakers may limit any significant upside.
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