[SMM India Market Weekly Review] India Domestic Steel Prices Rise W-o-W on Active Buying
India’s domestic steel market saw steady demand during August 17–21, supported by active buying across major markets. Supply remained relatively tight, while buyers continued to replenish stocks amid rising billet, rebar and scrap prices. Overall market sentiment remained positive with prices moving higher across key steel and raw material segments. Mandi Gobindgarh billet rose by 11.49USD/tonne (1,100INR/tonne) to 453.49USD/tonne (43,500INR/tonne) delivered Mandi Gobindgarh. Durgapur billet up by 7.31USD/tonne (700INR/tonne) to 420.06USD/tonne (40,200INR/tonne) delivered Durgapur. Raipur billet increased by 11.49USD/tonne (1,110INR/tonne) to 419USD/tonne (40,100INR/tonne) EXW Raipur. Rebar prices moved up by 6.27USD/tonne (600INR/tonne) to 500USD/tonne (47,900INR/tonne) EXW Mumbai. Melting scrap prices rose by 9.40USD/tonne (900INR/tonne) to 362.59USD/tonne (INR34,700/tonne) ex-yard Alang and 8Ani (12mm) plate rose by 10.45USD/tonne (1,000INR/tonne) to 423.91USD/tonne (INR40,500/tonne) ex-yard Alang. In northern Mandi Gobindgarh, HMS 1&2 (80:20) 10.45USD/tonne (1,000INR/tonne) to 364.68USD/tonne (34,900INR/tonne) delivered Mandi.