[SMM Steel] Indian Steel Market Largely Flat; Regional HRC and Imported Scrap Offers Rise

Published: Aug 25, 2026 16:39

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[India] India’s steel market remained largely stable, with limited movement in domestic HRC and billet prices amid cautious trading. However, offers for regional HRC have increased over the past week. HRC offers into Vietnam were heard at around 530USD/tonne CFR. But buyers were reluctant to accept these levels. Imported scrap indications into India remained firm: West Africa-origin shredded scrap was heard at approximately 390USD/tonne CFR India, UK/EU-origin shredded scrap at around 400USD/tonne CFR India, and UK-origin HMS 1&2 (80:20) at approximately 360-365USD/tonne CFR India. Overall sentiment remained cautious, with firmer raw-material costs supporting seller expectations while steel buyers continued to resist higher offers.

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