In the week to 15 October 2026, brass scrap in Delhi and Jamnagar fell by ₹35 to ₹54 a kg and aluminium alloy ingot slipped about 2%, as downstream factories went quiet before Diwali on 8 November. The telling part is that it happened even where global metal moved the other way: LME copper rose about 1.2% over the fortnight while Indian brass scrap dropped, because the price you get in mid-October is set by local festive demand, not the exchange. Steel scrap, by contrast, barely moved. For dealers sitting on clean non-ferrous scrap, this is a holding decision, not a distress sale.
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.
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
A post-monsoon demand surge and tight supply are pushing finished steel prices up. This is a direct signal for scrap suppliers and recyclers that raw material rates will follow.
