[SMM Steel] India Domestic Steel Market Largely Quiet Amid Janmashtami Holiday

Published: Sep 4, 2026 16:51

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[India Domestic] India’s domestic steel market remained largely quiet on Friday as the Janmashtami festival kept most market participants inactive, with trading activity limited and prices remaining mostly stable. Mandi Gobindgarh billet flat at 492.14USD/tonne (46,500INR/tonne) delivered Mandi. Raipur billet down by 4.23USD/tonne (400INR/tonne) to 444.52USD/tonne (42,000INR/tonne) EXW Raipur. Rebar prices moved up by 1.05USD/tonne (100INR/tonne) to 530.24USD/tonne (50,100INR/tonne) EXW Mumbai. Mandi Ingot unchanged at 492.17USD/tonne (46,500INR/tonne) EXW Mandi. PDRI sponge iron unchanged at 315.41USD/tonne (29,800INR/tonne) EXW Bellary. PDRI sponge iron prices down by 3.17USD/tonne (300INR/tonne) to 309.06USD/tonne (29,200INR/tonne) EXW Raipur. Melting scrap prices flat at 388.43USD/tonne (36,700INR/tonne) ex-yard Alang.

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