[SMM Steel] India domestic steel market subdued, post-monsoon demand revival awaited

Published: Sep 22, 2026 16:31 (GMT+8)

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[India Domestic] India’s domestic steel and scrap market remained subdued with prices largely stable to lower across key markets amid limited buying interest. Mandi HMS 1&2 (80:20) down 1 USD/tonne (100 INR/tonne) to 408 USD/tonne (38,900 INR/tonne). Alang Melting dropped 6 USD/tonne (600 INR/tonne) to 389 USD/tonne (37,300 INR/tonne) and 8Ani (12mm) down 4 USD/tonne (400 INR/tonne) to 431 USD/tonne (41,300 INR/tonne) ex-yard Alang. Scrap prices could face stronger downward pressure amid high stocks and unloading constraints in some areas. Billet down 1 USD/tonne (100 INR/tonne) to 497 USD/tonne (47,600 INR/tonne) delivered Mandi. Rebar prices unchanged 548 USD/tonne (52,500 INR/tonne) EXW Mumbai. Market participants expect that the post-monsoon demand revival will significantly drive up the prices and sales volume of finished steel.

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