[SMM Steel] India Domestic Steel Prices Decline Amid Weak Buying

Published: Oct 13, 2026 16:36 (GMT+8)

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[India Domestic] India’s domestic steel prices softened on Oct 13 amid subdued buying interest and limited trading activity. Buyers continued to purchase mainly for immediate requirements, keeping sellers under pressure. Steel mills in Chhattisgarh are facing power cuts reducing production. High electricity prices and rising coal and pellet costs have also prompted some producers to sell power to the grid rather than produce steel, squeezing operating margins. Mumbai rebar flat over a week at 564 USD/tonne (53,700 INR/tonne) EXW Mumbai. While Raipur rebar down 4 USD/tonne (400 INR/tonne) to 545 USD/tonne (51,900 INR/tonne) EXW Raipur. PDRI sponge iron down 4 USD/tonne (400 INR/tonne) to 298 USD/tonne (28,400 INR/tonne) EXW Raipur. A Few trades concluded at the current price level. Mandi ingot dropped 8 USD/tonne (800 INR/tonne) to 490 USD/tonne (46,700 INR/tonne) EXW Mandi. Billet down 5 USD/tonne (500 INR/tonne) to 460 USD/tonne (43,800 INR/tonne) delivered Durgapur.

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