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- Sep 16, 2026
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Steel Market Update: Ingot & Scrap Prices Rise Across Key Indian Markets – 16 September 2026
Steel Market Update: Ingot & Scrap Prices Rise Across Key Indian Markets – 16 September 2026
The Indian steel market witnessed positive momentum on 16 September 2026, with several major steel-producing and scrap-consuming regions reporting price increases in both ingot and scrap segments. Key markets including Mandi Gobindgarh, Ghaziabad, Raipur, Bhiwadi, Jammu, Himachal, Jaipur, and Hyderabad recorded gains, indicating improved demand and stronger market sentiment.
Ingot Market Overview
Among the major ingot markets, Mandi Gobindgarh continued its upward trend with prices reaching ₹48,200 per MT, gaining ₹100. Ghaziabad emerged as one of the strongest markets of the day with a rise of ₹400 per MT, taking prices to ₹46,400 per MT.
Raipur registered the highest increase among major ingot centers, rising by ₹500 per MT to ₹44,000 per MT. Other positive movements were reported from:
• Himachal: ₹47,200 (+₹100)
• Jammu: ₹47,700 (+₹100)
• Jaipur: ₹46,500 (+₹100)
• Kotdwar: ₹46,000 (+₹300)
• Bhiwadi: ₹46,700 (+₹200)
Meanwhile, markets such as Ahmedabad, Alang, Bhavnagar, Hyderabad, Indore, Mumbai, Kolkata, and Kanpur remained stable without significant changes.
Scrap Market Overview
The scrap segment also showed notable strength across multiple regions.
Mandi Gobindgarh Scrap
Mandi Gobindgarh scrap prices increased by ₹100 per MT:
• Scrap: ₹36,100
• Melting Scrap: ₹39,600
• End Cutting: ₹41,100
• CRC Scrap: ₹42,100
These gains reflect healthy buying activity from rolling mills and secondary steel producers.
Hyderabad Leads Scrap Rally
Hyderabad recorded the strongest movement in the scrap market, with prices jumping by ₹1,200 per MT, reaching ₹33,600 per MT. The sharp increase highlights improved demand from regional steel manufacturers.
Other Notable Scrap Gains
• Indore Melting Scrap: ₹38,300 (+₹500)
• Indore Old Scrap: ₹36,500 (+₹500)
• Raipur Scrap: ₹38,700 (+₹500)
• Raipur End Cut: ₹39,600 (+₹300)
• Kotdwar: ₹38,200 (+₹200)
• Muzaffarnagar: ₹40,600 (+₹100)
• Alang: ₹38,700 (+₹100)
• Bhiwadi: ₹33,600 (+₹100)
The only notable decline was observed in Delhi, where scrap prices softened by ₹100 per MT to ₹41,100.
Market Analysis
The broad-based increase across multiple regions suggests stronger raw material demand from secondary steel producers, improved buying activity after recent stable sessions, positive sentiment in northern and central Indian steel markets, and continued support from infrastructure and construction-related demand.
Market participants are closely monitoring scrap availability and mill procurement activities, which may continue to influence pricing trends in the coming sessions.
Key Highlights
✅ Mandi Gobindgarh Ingot rises to ₹48,200 per MT
✅ Ghaziabad Ingot jumps ₹400 per MT
✅ Raipur Ingot gains ₹500 per MT
✅ Hyderabad Scrap surges ₹1,200 per MT
✅ Raipur and Indore Scrap markets strengthen significantly
✅ Delhi Scrap slips ₹100 per MT
✅ Overall market sentiment remains positive
Conclusion
The steel market opened stronger on 16 September 2026, with gains visible across both ingot and scrap categories. The positive movement in major industrial hubs such as Mandi Gobindgarh, Ghaziabad, Raipur, and Hyderabad indicates healthy market activity and improving demand conditions.
Industry participants should continue monitoring raw material trends, mill procurement activity, and regional demand patterns for further market direction in the coming days.
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