[SMM Steel] India Domestic Scrap and Steel Prices Rise
[India] India’s domestic scrap and steel market observed regular buying activity with prices moving slightly higher across key products. Supply remained balanced, while buyers continued to purchase at current levels. Mandi Gobindgarh billet rose by 3.13USD/tonne (300INR/tonne) to 453.49USD/tonne (43,500INR/tonne) delivered Mandi Gobindgarh. Durgapur billet unchanged at 420.06USD/tonne (40,200INR/tonne) delivered Durgapur. Rebar prices moved up by 4.18USD/tonne (400INR/tonne) to 500USD/tonne (47,900INR/tonne) EXW Mumbai. Melting scrap prices rose by 2.09USD/tonne (200INR/tonne) to 362.59USD/tonne (INR34,700/tonne) ex-yard Alang and 8Ani (12mm) plate rose by 2.09USD/tonne (200INR/tonne) to 423.91USD/tonne (INR40,500/tonne) ex-yard Alang.