[SMM Steel] India Steel Market Sees Limited Price Movement

Published: Aug 28, 2026 15:38

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[India Domestic] India’s domestic steel market remained largely stable with limited upward movement across key steel and scrap. Market activity was subdued as Raksha Bandhan festival kept several markets partially closed, while buyers remained largely inactive. In Mandi Gobindgarh, HMS 1&2 (80:20) rose by 5.23USD/tonne (500INR/tonne) to 386.19USD/tonne (36,900INR/tonne) delivered Mandi. Rebar prices unchanged at 506.55USD/tonne (48,400INR/tonne) EXW Mumbai. Billet rose by 4.19USD/tonne (400INR/tonne) to 475.15USD/tonne (45,400INR/tonne) delivered Mandi. Ingot up by 4.19USD/tonne (400INR/tonne) to 475.15USD/tonne (45,400INR/tonne) EXW Mandi. PDRI sponge iron prices up by 2.09USD/tonne (200INR/tonne) to 305.61USD/tonne (29,200INR/tonne) EXW Raipur.

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