[SMM Steel] Indian Steel Prices Remain Firm as Export Sales Stay Subdued

Published: Sep 21, 2026 16:18

Save

[India Export] At the beginning of this week, Export prices for HRC held flat at 640USD/tonne FOB India and 715–730USD/tonne CFR North Europe, while billet remained around 470USD/tonne FOB India. European buying remained cautious as participants awaited clarity on quota implementation and shipment timing; the additional FTA quota cannot yet be treated as operational because the agreement has not entered into force. Mumbai HRC was heard at around 668USD/tonne (64,000INR/tonne) ex-yard and 626–632USD/tonne (60,000–60,500INR/tonne) EXW, excluding GST, with a possiblity of further rise this week. Higher coking-coal and met-coke costs continued to support domestic pricing, while export demand remained subdued.

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.

For any inquiries or for more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

3 mins ago

[SMM Steel] India Domestic Steel and scrap Market Slows as Buyers Stay Cautious

[India Domestic] Domestic market activity slowed on Monday, with prices moving lower to flat from Friday. Market participants remained largely in a wait-and-watch mode, with buyers cautious about fresh purchases at current levels and sellers adjusting offers selectively to attract business. Mandi HMS 1&2 (80:20) down by 2 USD/tonne (200 INR/tonne) to 407 USD/tonne (39,000 INR/tonne) delivered Mandi as buying interest remained limited. Alang Melting 3 USD/tonne (300 INR/tonne) to 395 USD/tonne (37,900 INR/tonne) ex-yard Alang. PDRI sponge iron down 9 USD/tonne (900 INR/tonne) to 298 USD/tonne (28,600 INR/tonne) EXW Raipur. Billet down by 1 USD/tonne (100 INR/tonne) to 463 USD/tonne (44,400 INR/tonne) EXW Raipur. Buyers showed resistance to higher levels and mills remained cautious about fresh bookings amid slower spot activity. Durgapur billet inched down 1 USD/tonne (100 INR/tonne) to 464 USD/tonne (44,500 INR/tonne) delivered Durgapur. Rebar prices up by 1 USD/tonne (100 INR/tonne) to 548 USD/tonne (52,500 INR/tonne) EXW Mumbai. While Raipur rebar flat at 533 USD/tonne (51,100 INR/tonne) EXW Raipur.

3 mins ago

14 mins ago

[SMM Steel]

[Steel Billet] Today’s FOB export price of square billet edged up by USD 2/ton, with offers at Jiangyin Port standing at USD 465–470/ton. Order shipping windows are mainly for October–November. According to market surveys, overseas demand is gradually recovering, bringing more inquiries for exported billets and decent transaction performance.

14 mins ago

[SMM Steel]

[SMM Steel] According to market feedback, the current offshore price for 3SP billets with a specification of 150*150mm is quoted at USD 466/ton, with the port of shipment being Jiangyin Port.

14 mins ago

[SMM Steel] Indian Steel Prices Remain Firm as Export Sales Stay Subdued​

[SMM Steel] Indian Steel Prices Remain Firm as Export Sales Stay Subdued