[SMM Steel] India Domestic Prices Mostly Flat Amid Low Activity

Published: Sep 17, 2026 16:21

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[India Domestic] Domestic steel and scrap market activity remained slow. Alang were closed for Vishwakarma Puja, while some others operated partially and prices were mostly flat, keeping the market broadly stable, although rebar prices saw some increases in a few markets like Jalna, Mumbai. Many market participants remained inactive. Mandi HMS 1&2 (80:20) flat at 410.83USD/tonne (39,400INR/tonne) delivered Mandi. PDRI sponge iron were unchanged 307.60USD/tonne (29,500INR/tonne) EXW Raipur and 326.37USD/tonne (31,300INR/tonne) EXW Bellary, respectively, In Bellary, few sponge iron deals were reported at around 321-323USD/tonne (30,800-31,000INR/tonne) on Wednesday. Similar levels may continue on Thursday, although sellers are still quoting higher at around 326.37-328.46USD/tonne (31,300-31,500INR/tonne), as per market participants. Market activity remains limited with buyers showing cautious interest. Raipur billet flat 464.02USD/tonne (44,500INR/tonne) EXW Raipur.

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