[SMM Steel] India Alang scrap stable as Punjab power-cut risk supports sentiment

Published: Jul 1, 2026 14:58

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[India] India’s Alang HMS 80:20 ship-breaking scrap held at around 394 USD/tonne EXW amid cautious buying and sufficient supply. Bhavnagar billet fell to about 478 USD/tonne DAP, while rebar stayed near 531 USD/tonne EXW. In Mandi Gobindgarh, billet declined to around 496 USD/tonne DAP, rebar eased to about 551 USD/tonne EXW, and HMS scrap held near 408 USD/tonne DAP. Possible Punjab power cuts may limit steel output and support sentiment, but demand remains need-based.

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