- Prices rise amid tight supply due to market closure yesterday
- Steel prices show mixed trends in Gujarat, decline in Mandi
Ship-breaking melting scrap (HMS 80:20) prices in Alang rose by INR 300/t d-o-d to INR 38,800/t ($405/t) ex-yard on 18 September 2026. The market was closed yesterday on account of Vishwakarma Puja, which disrupted trading and restricted scrap availability. With limited material available for immediate procurement, suppliers raised their offers in today’s session, leading to firmer assessed prices.
Gujarat market update
In Gujarat, Bhavnagar billet prices increased by INR 300/t d-o-d to INR 47,800/t, while Ahmedabad rebar prices were unchanged at INR 52,500/t ex-works on 18 September 2026. Firm semi-finished and finished steel prices provided some support to scrap replacement economics, although demand remained uneven.
Mandi market update
In Mandi Gobindgarh, HMS 80:20 scrap prices decreased by INR 500/t d-o-d to INR 39,300/t, while billet prices fell by INR 250/t to INR 48,100/t. Similarly, rebar prices declined by INR 100/t d-o-d to INR 53,400/t ex-works, reflecting subdued downstream demand.
Outlook
Scrap prices are likely to remain firm in the near term, supported by tight availability and higher primary mill prices. However, subdued finished steel demand and cautious procurement could limit further gains unless downstream offtake improves.
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