[SMM India Domestic Market Weekly Review] India Domestic Steel Market Strengthens

Published: Aug 28, 2026 14:56

Save

India’s domestic steel market maintained a firm tone during the week with prices moving higher across steel and scrap. The upward movement was supported by healthy market activity and limited material availability, keeping overall sentiment positive. Mandi Gobindgarh billet rose by 9.42USD/tonne (900INR/tonne) to 475.15USD/tonne (45,400INR/tonne) delivered Mandi. Rebar prices moved up by 4.91USD/tonne (400INR/tonne) to 506.55USD/tonne (48,400INR/tonne) EXW Mumbai. Melting scrap prices increased by 6.28USD/tonne (600INR/tonne) to 368.40USD/tonne (35,200INR/tonne) ex-yard Alang. In Mandi Gobindgarh, HMS 1&2 (80:20) rose by 10.47USD/tonne (1,000INR/tonne) to 386.19USD/tonne (36,900INR/tonne) delivered Mandi. Mumbai HMS 1&2 (80:20) flat at 361.07USD/tonne (34,500INR/tonne) delivered Mumbai. Ingot rose by 9.42USD/tonne (900INR/tonne) to 475.15USD/tonne (45,400INR/tonne) EXW Mandi. PDRI sponge iron prices up by 9.42USD/tonne (900INR/tonne) to 305.61USD/tonne (29,200INR/tonne) EXW Raipur.

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM's internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or for more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

6 hours ago

MMi Daily Iron Ore Report (August 28)

Today, the DCE iron ore futures traded in a rangebound firm manner today, with the DCE main contract I2701 closing at 723 yuan/ton, up 0.91% from the previous session. On the spot side, mainstream prices followed suit with a rise of 5–7 yuan/ton.

6 hours ago

[SMM Steel]

[Rebar] Today, rebar export quotations at Tianjin Port rose in tandem with the futures market, up by USD 3/ton, with overall transaction prices ranging from USD 481-486/ton. According to exporters, market inquiries were decent today, but transactions remained mediocre, mainly due to downstream end users' low willingness to accept high prices.

6 hours ago

[SMM Steel]

[SMM Steel] Market feedback: Currently, the FOB price for B500B rebar with a specification of Φ18mm is quoted at USD 483/ton, with the loading port being Tianjin Port.

6 hours ago