MMi Daily Iron Ore Index Prices for 1st October 2026

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

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

[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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Sep 30, 2026 16:38 (GMT+8)

[SMM Steel] India Domestic Steel Prices Mostly Stable

[India Domestic] India's domestic steel and scrap market remained largely stable with prices showing limited movement across key markets amid soft demand on Wednesday. Semi-finished steel and rebar prices were mostly unchanged as sales stayed weak. Melting scrap down 3 USD/tonne (300 INR/tonne) to 396 USD/tonne (38,000 INR/tonne) ex-yard Alang. Mandi ingot up 1 USD/tonne (100 INR/tonne) to 504 USD/tonne (48,300 INR/tonne) EXW Mandi from Tuesday’s morning but remained flat from last index. Rebar prices flat 540 USD/tonne (51,800 INR/tonne) EXW Raipur. Billet edged down 2 USD/tonne (200 INR/tonne) to 471 USD/tonne (45,200 INR/tonne) EXW Raipur. Durgapur Billet flat at 473 USD/tonne (45,300 INR/tonne) delivered Durgapur. Sponge iron PDRI unchanged at 324 USD/tonne (31,100 INR/tonne) EXW Bellary. Raipur PDRI also flat at 308 USD/tonne (29,500 INR/tonne) EXW Raipur. Market participants views on the near-term price outlook with some buyers expecting prices to correct further.

Sep 30, 2026 16:38 (GMT+8)