Market sentiment remains mixed today as semi finished steel prices weaken across major hubs while HRC and CRC stay completely flat with no movement in most regions.
Scrap markets show a mild downward bias, signalling softer input costs for secondary producers.
Wire rod stands out with a sharp upward swing in the national index.
TMT prices remain regionally divided with strength in Madhya Pradesh and softness in Maharashtra.
MS Billet – Key Regions
Location
Opening Price (₹/t)
Latest Price (₹/t)
Sentiment
Mandi Gobindgarh
39,000
38,900
▼
Ahmedabad
37,400
37,200
▼
Ghaziabad
37,700
37,500
▼
Ludhiana
39,400
39,200
▼
Rourkela
34,900
34,300
▼
Pig Iron (Foundry Grade)
Location
Opening Price (₹/t)
Latest Price (₹/t)
Sentiment
Ludhiana
38,500
38,500
►
Jalandhar
38,800
38,800
►
Batala
38,500
38,400
▼
Durgapur
38,500
37,000
▼
Hot Rolled Coil (HRC)
Location
Opening Price (₹/t)
Latest Price (₹/t)
Sentiment
Ghaziabad
47,300
47,300
►
Jaipur
47,500
47,500
►
Kolkata
47,000
47,000
►
Durgapur
45,500
45,500
►
Cold Rolled Coil (CRC)
Location
Opening Price (₹/t)
Latest Price (₹/t)
Sentiment
Jaipur
53,000
53,000
►
Ghaziabad
53,000
53,000
►
Durgapur
51,500
51,500
►
Kolkata
54,000
54,000
►
Ludhiana
57,000
57,000
►
Wire Rod
Location
Opening Price (₹/t)
Latest Price (₹/t)
Sentiment
India Average
38,400
44,800
▲
MS Scrap – Melting
Location
Opening Price (₹/t)
Latest Price (₹/t)
Sentiment
India Average
30,800
30,700
▼
MS Scrap – End Cutting
Location
Opening Price (₹/t)
Latest Price (₹/t)
Sentiment
India Average
32,300
32,200
▼
TMT Rebar – State Aggregates
Location
Opening Price (₹/t)
Latest Price (₹/t)
Sentiment
Madhya Pradesh
50,600
51,800
▲
Maharashtra
43,000
40,000
▼
Uttar Pradesh
44,200
44,725
▲
Things to Look Out For
• Movement in scrap inflows from western and northern yards which could influence billet and ingot sentiment over the next few sessions • Any pickup in rebar demand from infrastructure and retail construction segments that may support semi finished steel prices • Potential pricing adjustments in HRC and CRC as mills evaluate inventory positions for mid November • Export enquiries for wire rod and pig iron that could add upward pressure if volumes improve • State level power cost updates, especially for central and eastern India, which may impact alloy and steel production costs
