Maharashtra clears 937 hectares for Gadchiroli steel expansion Steel stock surges 29% in just two days Steel output rises 14% to 9.25 MT Infrastructure boom fuels India’s steel consumption
✅ Import scrap prices rise by ₹500–₹800/MT due to supply shortage.
✅ Higher freight costs and reduced shipments drive price increases.
✅ Mills anticipate short-term volatility but expect stabilization ahead.
Import scrap prices in India have surged due to tightening global supplies and increased buying activity from domestic steelmakers. Higher freight costs and reduced availability from key suppliers have pushed prices up by ₹500–₹800/MT in the past week.
Market sources report that increased demand from steel mills, combined with lower scrap shipments from the Middle East and Europe, has created upward pressure on prices. Importers are now facing challenges in securing consistent supplies, driving competition among buyers.
Industry experts believe the supply crunch could persist in the short term, further supporting price increases. However, some mills are adopting a wait-and-watch approach, expecting price corrections once supply conditions stabilize.
Also Read : India to send teams to Chile seeking lithium and copper assets Baosteel Maintains Flat Steel Prices for June Sales
The growth momentum of the Indian economy from the first half of the current financial year is seen...
Business 20-Feb-2024
Ramkrishna Forgings has signed an agreement to supply power train components to the United States' l...
Mid Corporate 18-Apr-2024
SAIL Supplies 8,000 Tonnes of Steel for Indian Navy’s New Frigates Steel Authority of India L...
India 27-Aug-2025
The price of crude oil began the week on a downward trend following Israel's announcement that it ha...
Raw Material 12-Feb-2024
Jefferies Picks Tata Steel, Jindal Stainless as Top Bets in Sector Rebound Global brokerage Jefferi...
Large Corporate 30-Jul-2025
Oil prices rose for a second day, boosted by hopes of increased demand in the US, the world's larges...
US 22-Feb-2024