[SMM India Domestic Market Weekly Review] Indian Domestic Steel Market Maintains Upward Trend

Published: Sep 11, 2026 16:39

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The Indian domestic steel market strengthened during the week with prices increasing by 4.18-15.68USD/tonne (400–1,500INR/tonne) across key markets compared with the previous week, supported by improved demand and tighter availability. Raipur billet rose by 15.66USD/tonne (1,500INR/tonne) week on week to 454.40USD/tonne (43,500INR/tonne) EXW Raipur. Rebar prices increased by 8.35USD/tonne (800INR/tonne) to 531.66USD/tonne (50,900INR/tonne) EXW Mumbai. In Mandi Gobindgarh, HMS 1&2 (80:20) rose by 4.17USD/tonne (400INR/tonne) to 400USD/tonne (38,300INR/tonne) delivered Mandi. Ingot rose by 4.17USD/tonne (400INR/tonne) to 489.79USD/tonne (46,900INR/tonne) EXW Mandi. PDRI sponge iron prices up by 9.39USD/tonne (900INR/tonne) to 320.60USD/tonne (30,700INR/tonne) EXW Bellary. Alang Melting rose by 10.44USD/tonne (1,000INR/tonne) to 393.63USD/tonne (37,700INR/tonne) ex-yard Alang. Steel prices may remain firm in the coming week amid higher raw material costs.

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