[SMM Steel] India Domestic Steel and Scrap Prices Trend down

Published: Oct 09, 2026 15:54 (GMT+8)

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[India Domestic] India’s domestic steel and scrap prices mostly declined day-to-day, reflecting a broadly weaker market trend. Cautious buying and limited demand kept prices under pressure, while trading activity remained subdued as buyers focused mainly on immediate requirements rather than fresh restocking. HMS 1&2 (80:20) down 2 USD/tonne (200 INR/tonne) day-to-day to 405 USD/tonne (39,200 INR/tonne) delivered Mandi. Melting down 10 USD/tonne (1,000 INR/tonne) to 386 USD/tonne (37,300 INR/tonne) ex-yard Alang. PDRI sponge iron down 2 USD/tonne (200 INR/tonne) to 304 USD/tonne (29,400 INR/tonne) EXW Raipur. Mandi ingot edged down 2 USD/tonne (200 INR/tonne) to 497 USD/tonne (48,100 INR/tonne) EXW Mandi. Billet down 1 USD/tonne (100 INR/tonne) to 471 USD/tonne (45,600 INR/tonne) EXW Raipur. Raipur rebar unchanged 548 USD/tonne (53,000 INR/tonne) EXW Raipur.

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