National heavy melting scrap (HMS) fell 3.9% on our price page from 5 to 19 October 2026, from ₹38.60 to ₹37.10 a kg, and a public market report shows Mandi falling 3.8% in the week to 16 October. Diwali is on Sunday 8 November. We went back through public trade reports for the three earlier festivals. In each, prices were soft in the weeks before Diwali. What came after was different every time: a strong rebound in 2024, a weak one in 2025 and none in 2023. Four festivals are too few to call a rule, but they show what a yard can and cannot count on.
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.
September has closed, and each of our four material reports tells a different story. Copper went nowhere after a $750 swing, polymer prices rose round after round, lithium lost a quarter of its value, and Punjab's harvest season has begun. Here is the month in one page, with a link to the full report for your material.
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.
Buyer DemandSeller OpportunityPrice IncreasePrice Drop
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.
High Profit OpportunitySeller OpportunityPrice IncreaseDemand Surge
Driven by AI demand and US stockpiling, the global rally is creating a seller's market in India. For buyers, it's a cost crisis; for sellers, a golden opportunity.
High Profit OpportunitySeller OpportunityPrice IncreaseSupply Shortage
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.
