Price Overview (₹/tonne)
| Market Hub | MS Ingot | MS Billet | Trend |
|---|---|---|---|
| Mandi Gobindgarh (Punjab) | 38,600 | 38,600 | Stable |
| Ahmedabad (Gujarat) | 36,800 | 37,000 | Stable |
| Durgapur (West Bengal) | 34,600 | 34,800 | Slightly weak |
| Raipur (Chhattisgarh) | 34,500 | 34,700 | Flat |
| Bhavnagar (Gujarat) | 36,900 | 37,000 | Steady |
| Jalna (Maharashtra) | 36,700 | 36,900 | Range bound |
Market Snapshot
• The Indian secondary steel market opened today with steady tone across major billet and ingot hubs, showing little directional change compared with the previous session.
• Mandi Gobindgarh continues to hold the highest price band at ₹38,600 per tonne, maintaining its position as the domestic benchmark for northern India.
• Eastern hubs like Durgapur and Raipur are trading at discounts of ₹3,500 to ₹4,000 per tonne against the northern market due to lower local demand and higher freight costs.
• Western markets such as Ahmedabad and Bhavnagar are showing consistent trading levels, supported by moderate activity from rolling mills and foundries.
• Scrap prices and power costs remain largely stable across all regions, keeping production costs in check and discouraging any immediate price adjustments.
Things to Watch
• Any improvement in construction and infrastructure demand in the northern belt which could lift billet prices in Mandi Gobindgarh.
• Scrap inflow and melting cost trends in Gujarat and Chhattisgarh that may affect smelter margins.
• Downstream rebar and structural steel orders ahead of the year-end construction cycle which could influence semi-finished steel demand.
• Freight cost changes or power tariff revisions that may alter regional competitiveness across hubs.
Markintel View
The secondary steel market continues to trade within a narrow band, with stable supply and measured buying activity. Prices are unlikely to shift significantly in the near term unless a clear rise in rebar or construction-grade steel demand emerges.
For buyers, this is a suitable window for steady procurement. For producers, maintaining cost efficiency and inventory discipline remains key until fresh demand cues arrive.
Disclaimer: This market update is based entirely on publicly available data from published sources. Markintel has analyzed and interpreted this information for research and educational purposes. It does not represent the official views of the cited source or constitute investment advice.
