[SMM Steel] India domestic steel prices rise amid steady demand

Published: Oct 01, 2026 16:18 (GMT+8)

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[India Domestic] India’s domestic steel market strengthened with prices rising across several key markets amid steady demand. Steel prices are expected to rise by another USD 20/tonne (INR 2,000/tonne) in the coming week, driven by higher raw material costs and a pick-up in demand. Major primary steel producers have also raised rebar prices recently, according to market participants. Mandi HMS 1&2 (80:20) up 3 USD/tonne (300 INR/tonne) to 409 USD/tonne (39,400 INR/tonne) delivered Mandi. Mumbai HMS 1&2 (80:20) unchanged at 376 USD/tonne (36,500 INR/tonne) delivered Mumbai. Mandi ingot up 3 USD/tonne (300 INR/tonne) to 505 USD/tonne (48,600 INR/tonne) EXW Mandi. Rebar rose 4 USD/tonne (400 INR/tonne) to 543 USD/tonne (52,200 INR/tonne) EXW Raipur. Durgapur Billet flat at 471 USD/tonne (45,300 INR/tonne) delivered Durgapur. Sponge iron PDRI increased 3 USD/tonne (300 INR/tonne) to 310 USD/tonne (29,800 INR/tonne) EXW Raipur.

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