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Dated market indications for 3 November show lower Raipur rebar and Mandi HMS scrap, while Mumbai rebar was unchanged. The snapshot suggests the pre-festive market is not moving in one direction.
Heavy melting scrap at Mandi Gobindgarh rose to ₹39,700 a tonne on 5 October 2026, up ₹1,300 from a week earlier, more than reversing the previous week's fall. Ship scrap at Alang, sponge iron, billets and rebar all moved up too. Power cuts at mills in Chhattisgarh and firm scrap markets abroad are behind the rise. Here is what the numbers show and what to do with them.
This week, Eicher-maker VECV signed a deal to route old trucks into registered scrapping centres. Behind it are a government scheme to replace more than 2 lakh old trucks and buses, and an auto industry that missed its legal scrapping target by 70%. For the first time, subsidy money and compliance demand are pointing at the same scrapyard gate.
The state is creating rules for large-scale battery storage. Smart dealers should see this as a sign of a major new scrap source on the horizon.
For the first time in recent memory, Mumbai's MS scrap rates are higher than Pune's, forcing a rethink of sourcing and sales strategies across Maharashtra.
A post-monsoon demand surge and tight mill supply have pushed Indian steel scrap prices up by over ₹1,100/tonne in a single week. For sellers, it’s a golden opportunity. For buyers, it’s a critical margin test.
India's rPET market stays steady as scrap sellers hold stock for post-monsoon demand. High ocean freight costs continue to stall export sales.
The cost to make steel is rising. Raw materials like sponge iron and scrap are up by ₹1,000/tonne. This means mills are charging more for steel rods. Here’s what it means for you.
Freight repricing moved the delivered cost ranking of scrap origins. A tightened ingot specification moved which of those origins you can actually use.
Turnover-based eligibility thresholds are deciding these tenders before a single technical bid is opened.
Food-grade rPET commitments assume a bottle recovery rate the collection network does not currently deliver.
Tighter inspection at entry is changing which origins and grades clear efficiently, with knock-on effects on domestic premiums.