- Billet prices decreased by INR 700/t d-o-d in Bhavnagar
- Muted steel demand, thin trading activity continue to weigh on prices
Alang ship-breaking melting scrap prices corrected by INR 500/t d-o-d to INR 37,500/t ex-yard for HMS (80:20) on 22 September 2026. The market remained subdued as steelmakers and recyclers showed limited buying interest. With trading activity muted, market participants largely stayed on the sidelines and remained cautious on fresh purchases, awaiting an improvement in downstream demand.
Gujarat market update
Gujarat’s steel market remained under pressure, with Bhavnagar billet prices falling by INR 700/t d-o-d to INR 46,700/t DAP and Ahmedabad rebar prices decreasing by INR 400/t to INR 52,500/t ex-works. Slow buying and weak finished-steel demand continued to weigh on scrap procurement, prompting mills to purchase only against immediate requirements.
Mandi market update
Mandi Gobindgarh billet prices declined by INR 300/t to INR 47,550/t DAP, while HMS melting scrap prices dropped by INR 500/t to INR 38,400/t DAP. Rebar prices also corrected by INR 100/t to INR 53,000/t ex-works. The broader correction points to subdued downstream demand and cautious mill procurement, with buyers maintaining a need-based approach to inventory replenishment.
Outlook
The Alang ship-breaking scrap market is expected to remain range-bound in the near term. Weak downstream steel demand and limited buying interest are likely to keep trading activity subdued, while the absence of any major supply-side disruptions may prevent significant price movements.
Leave a Reply