[SMM Steel] Cautious Buying Keeps India Domestic Scrap Prices Largely Stable

Published: Aug 6, 2026 16:46

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[India] The Indian domestic ferrous scrap market remained cautious, with prices showing mixed movements across major trading hubs as mills continued need-based procurement amid adequate supply. In northern Mandi Gobindgarh, HMS 1&2 (80:20) remained stable at 348.70 USD/tonne (33,200 INR/tonne), while end-cuttings were heard at 363.40 USD/tonne (34,600 INR/tonne). Ship-breaking scrap prices in Alang declined by 2.10 USD/tonne day on day to 346.60 USD/tonne ex-yard (33,000 INR/tonne). Elsewhere, Mumbai HMS 1&2 (80:20) eased 1.05 USD/tonne to 341.35 USD/tonne (32,500 INR/tonne), while Ahmedabad prices fell 2.10 USD/tonne to 334 USD/tonne (31,800 INR/tonne). Overall, cautious buying, sufficient scrap availability and flexible seller offers kept the market balanced, resulting in localized price adjustments rather than any broader directional trend.

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