[SMM Steel] Indian Billet Market Firms; Imported Scrap Trade Remains Inactive

Published: Aug 19, 2026 16:32

Save

[India] Indian billet export indications firmed to 460USD/tonne FOB India amid strengthening market sentiment. US/EU-origin shredded scrap was indicated at 420–422USD/tonne CFR Port Qasim, while UAE-origin HMS stood at 413–415USD/tonne CFR Port Qasim and HMS for India near 360USD/tonne CFR India. However, all scrap levels in India remained indicative, with no confirmed trading. The firmer tone extended to domestic billet, with prices rising across 16 of 19 assessed locations and ranging from 406–458USD/tonne (38,800–43,800INR/tonne). Mumbai recorded the strongest increase, rising 12USD/tonne (1,100INR/tonne) to 448USD/tonne (42,800INR/tonne), while billet stood at 444USD/tonne (42,400INR/tonne) in Mandi Gobindgarh, 414USD/tonne (39,600INR/tonne) in Raipur, 458USD/tonne (43,800INR/tonne) in Chennai and 422 USD/tonne (40,300INR/tonne) in Durgapur. Domestic HRC prices remained unchanged.

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

5 mins ago

[SMM Flash] India’s Steel Consumption Nearly Doubles to 152 Mt in a Decade

India’s steel consumption rose to 152 million tonnes in FY2024-25 from 77 million tonnes in FY2014-15, according to Steel Secretary Sandeep Pondrik. Speaking at the India AI Impact Summit 2026 in New Delhi, Pondrik said the country’s crude steel capacity is projected to reach 300 million tonnes by FY2030-31 and 400 million tonnes by FY2035-36. The summit also brought steelmakers, iron-ore miners and AI developers together to explore digital applications and partnerships across the steel value chain.

5 mins ago

16 mins ago

[SMM Sheets & Plates Daily Review]

HRC futures closed at 3,286 today, gaining 0.4% for the full day. In the spot market, spot HRC prices edged up 10 yuan/mt while remaining largely stable, cold-rolled prices were flat, and overall trading was moderate today. HRC city inventory data was released today: inventories in Zhangjiagang, Shanghai, Ningbo, and Tangshan built up, while those in Lecong and Shenyang saw slight destocking. Overall, HRC social inventory is expected to build up this week. Cost side, expectations for price hikes in coking coal and coke are heating up, strengthening the support from raw materials for HRC’s bottom. Steel mills have become somewhat more inclined to hold prices firm. However, end-use demand has yet to improve materially, capping upside room. In the short term, HRC lacks a directional driver. The futures market is trading on expectations for the September peak season. The upside is pressured by weak demand, while the downside is cushioned by costs. Prices are most likely to continue moving sideways.

16 mins ago

32 mins ago

[Outokumpu Starts Biocoke Plant to Cut Ferrochrome Emissions]

Finnish stainless steel producer Outokumpu has inaugurated a new biocoke agglomeration plant in Tornio with an investment of approximately USD 35 million. The facility processes biochar into biocoke to replace fossil coke in ferrochrome production and could reduce annual carbon dioxide emissions by up to 82,000 tonnes at full capacity. The project supports Outokumpu's target of cutting value-chain carbon dioxide emissions by 42% by 2030 from 2016 levels.

32 mins ago