[SMM Steel] Indian Steel Prices Firm as Supply Adjustments Support HRC and Longs
[India] Indian steel prices moved higher, with the domestic ferrous scrap index rising by 2USD/tonne (200INR/tonne) day-on-day. Mandi Gobindgarh billet increased by 3USD/tonne (250INR/tonne) to 445USD/tonne (42,500INR/tonne), while 12mm rebar rose by 3USD/tonne (300INR/tonne) to 495USD/tonne (47,200INR/tonne). In Raipur, billet climbed to 404USD/tonne (38,600INR/tonne), while rebar reached 425USD/tonne (40,600INR/tonne). Domestic HRC prices also increased by around 1–8USD/tonne (100–800INR/tonne) week on week, supported by supply adjustments at major mills.