[SMM Steel] A Slight Fall in Indian Steel Prices Amid Monsoons

Published: Aug 7, 2026 15:39

Save

[India] Indian long steel prices registered a slight decline across major markets, with buying activity remaining cautious amid the monsoon season. Mandi Gobindgarh TMT held at 503.10 USD/tonne (47,900 INR/tonne), while primary producer offers remained at 525.15 USD/tonne (50,000 INR/tonne) ex-Durgapur. In the semis market, Mandi Gobindgarh billet was unchanged at 447.43 USD/tonne (42,600 INR/tonne), although billet prices in Durgapur and Raipur slipped by 4.20 USD/tonne (400 INR/tonne) and 1.05 USD/tonne (100 INR/tonne), respectively. Export sentiment remained subdued, with Indian HRC offers heard at 490 USD/tonne FOB to European buyers and 520 USD/tonne FOB to Middle Eastern buyers. But buyers were not interested in these levels amid the availability of lower-priced material from other regions.

Domestic raw material prices softened in July, led by lower iron ore and manganese ore prices. NMDC reduced Baila lump (65.5%) prices by 4.4% month on month to 57.10 USD/tonne (5,450 INR/tonne) and Baila fines (64%) by 3.1% to 49.30 USD/tonne (4,700 INR/tonne), while MOIL's 37% Mn lump ore declined 5.0% to 194.20 USD/tonne (18,529 INR/tonne).

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM's internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or for more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

21 mins ago

[SMM Steel] Vietnam Steel Prices Hold Stable as EU Proposes 16% AD Duty on CRC

[Vietnam] Vietnam’s domestic steel market remained broadly stable after major mills raised prices last week. Prices for rebar held at around USD 533.6/tonne, while HRC for August delivery was quoted at USD 556–557/tonne. Rainy-season demand weakness and lower input costs limited further gains, while international prices eased from USD 540/tonne to USD 536/tonne. Meanwhile, the EU proposed a 16% anti-dumping duty on Vietnamese CRC, which could raise export costs and weaken its competitiveness in the EU market.

21 mins ago

47 mins ago

Data: SHFE, DCE market movement (Aug 07)

The following table shows the ferrous and nonferrous metals movement on the SHFE and DCE on 07 Aug , 2026

47 mins ago

55 mins ago

[SMM Steel]

[Sheets & Plates] Today, some export prices of hot-rolled coil and other sheets & plates rose $1/mt DoD, with transaction prices of hot-rolled coil at $482-485/mt. In the second half of the week, China’s futures market continued to rise, and domestic export FOB prices followed suit. However, traders reported that after the price increase, actual transactions were relatively limited, but on the steel mill side, there were cases of traders purchasing against earlier orders.

55 mins ago