[SMM Steel] India Domestic Steel & Scrap: Billet, Rebar Up; Sponge Iron Flat

Published: Sep 9, 2026 16:25

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[India Domestic] Domestic prices in India were mixed on Wednesday. Alang Melting prices unchanged at 392.25USD/tonne (37,300INR/tonne) ex-yard Alang. While, 8Ani (12mm) down by 2.10USD/tonne (200INR/tonne) to 439.55USD/tonne (41,800INR/tonne) ex-yard Alang. Mumbai Rebar up by 1.05USD/tonne (100INR/tonne) to 529.93USD/tonne (50,400INR/tonne) EXW Mumbai. PDRI sponge iron unchanged at 302.82USD/tonne (28,800INR/tonne) EXW Raipur for the third consecutive day as buyers and sellers are both in a wait-and-watch mode. Raipur billet increased by 3.15USD/tonne (300INR/tonne) to 446.87USD/tonne (42,500INR/tonne) EXW Raipur. Ingot up by 1.05USD/tonne (100INR/tonne) to 488.85USD/tonne (46,500INR/tonne) EXW Mandi. Chennai HMS offers stood at 352.27USD/tonne (INR33,500/tonne) on Wednesday with sellers eyeing 357.52USD/tonne (INR34,000/tonne) amid bullish sentiment. A market source attributed that sellers tend to turn aggressive during such bullish phases, pushing offers higher on the back of a persistent demand-supply gap. Buyers, however, remain cautious at these levels. HMS 1&2 (80:20) rose by 1.05USD/tonne (100INR/tonne) to 398.45USD/tonne (37,900INR/tonne) delivered Mandi.

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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