[SMM Steel] India Domestic Steel Market Sees Price Gains

Published: Aug 27, 2026 16:21

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[India] India’s domestic steel and scrap market saw price increases on Thursday. Sponge iron prices continued to rise due to coal shortages and limited availability. Scrap and steel prices moved up on steady buying interest. In Mandi Gobindgarh, HMS 1&2 (80:20) prices up by 1.05USD/tonne (100INR/tonne) to 381.32USD/tonne (36,400INR/tonne) delivered Mandi. Mumbai HMS 1&2 (80:20) prices up by 1.05USD/tonne (100INR/tonne) to 361.42USD/tonne (34,500INR/tonne) delivered Mumbai. Chennai HMS 1&2 (80:20) rose by 8.38USD/tonne (800INR/tonne) to 338.37USD/tonne (32,300INR/tonne) delivered Chennai. Rebar prices moved up by 2.10USD/tonne (200INR/tonne) to 507.03USD/tonne (48,400INR/tonne) EXW Mumbai. Chennai rebar unchanged at 511.22USD/tonne (48,800INR/tonne) EXW Chennai. Billet rose by 3.14USD/tonne (300INR/tonne) to 471.41USD/tonne (45,000INR/tonne) delivered Mandi Gobindgarh. Mandi ingot prices up by 3.14USD/tonne (300INR/tonne) to 471.41USD/tonne (45,000INR/tonne) EXW Mandi. Bellary PDRI sponge iron prices up by 3.14USD/tonne (300INR/tonne) to 296.47USD/tonne (28,300INR/tonne) EXW bellary.

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