[SMM Steel] Indian Domestic Steel Market Remains Mostly Stable

Published: Sep 8, 2026 16:07

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[India Domestic] Domestic steel and scrap prices were mostly flat on a day-to-day basis. Some finished steel products saw modest gains and market sentiment remained cautiously positive with some improvement in finished-steel demand. PDRI sponge iron unchanged at 304.02USD/tonne (28,800INR/tonne) EXW Raipur. Rebar up by 1.05USD/tonne (100INR/tonne) to 530.97USD/tonne (50,300INR/tonne) EXW Mumbai. Raipur billet up by 2.11USD/tonne (200INR/tonne) to 445.47USD/tonne (42,200INR/tonne) EXW Raipur. Mandi Billet unchanged at 489.80USD/tonne (46,400INR/tonne) delivered Mandi. Ingot flat at 489.80USD/tonne (46,400INR/tonne) EXW Mandi. HMS 1&2 (80:20) flat at 399USD/tonne (37,800INR/tonne) delivered Mandi. Mumbai HMS 1&2 (80:20) flat at 377.89USD/tonne (35,800INR/tonne) delivered Mumbai. Buying remained largely requirement-based, while mills continued to monitor raw-material availability and procurement costs.

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.

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