India: CR busheling scrap prices surge up to INR 3,300/t in Apr'26

• South India leads price rally, sharp spikes in north
  
  
• Imported busheling loses appeal as domestic material stays cheaper
  
  

India's CR busheling scrap market showed sharp regional divergence in April 2026, signaling a broader shift amid tightening domestic supplies and cooling interest in imports. While southern, northern, and western regions saw strong price rallies driven by shortages and steady demand from secondary steel hubs, northern India grappled with acute scrap scarcity-pushing auction bids higher after March's relative calm. This uneven trend underscores growing supply vulnerabilities across key markets, with mills increasingly cautious on inventory builds.

Regional price trends

In March to April 2026, the southern region led CR busheling scrap's price surge with a robust INR 3,300/t m-o-m gain to INR 39,400/t, fueled by tight local availability and strong demand; the northern region followed closely, rising INR 1,900/t to INR 40,200/t amid intensifying shortages and some support from finished steel sales; while the western region climbed INR 1,000/t to INR 36,800/t DAP, bolstered by supply constraints and renewed buying from major hubs like Mandi Gobindgarh.

CR busheling auction comparison m-o-m

HRC, CRC price trends

At the trade level, HRC prices climbed INR 2,500/t ($26/t) m-o-m in April, reaching INR 59,100/t ($621/t) compared to INR 56,600/t ($594/t) in March. CRC prices recorded an even sharper ascent, surging INR 3,300/t ($35/t) to INR 66,500/t ($699/t), up from INR 63,200/t ($664/t) over the same period. The uptick was driven by mill-led price hike announcements, coupled with a cautious stance among market participants amid prevailing uncertainty.

Imported vs domestic scrap

Imported CR busheling scrap lost further ground to domestic supplies in north India, with CFR offers at Kandla and Mundra pegged at $420-425/t (INR 43,350-43,800/t DAP post-duties/freight) well above local prices of INR 40,250-40,500/t DAP. This yawning gap, amid mill cost squeezes and global trade tensions, has mills sidelining imports in favour of scarcer-but-cheaper domestic material.

Upcoming scrap auctions

Auto sector performance

India's leading 4-wheeler manufacturer extended its market lead with a clear m-o-m gain in April, while most other OEMs recorded modest m-o-m declines after strong March dispatches, reflecting the typical post-financial-year slowdown across the industry, even though y-o-y sales numbers remain robust.

Outlook

India's CR busheling scrap prices are expected to remain firm in the near term amid persistent domestic supply tightness and limited viability of imported material. However, mills are likely to maintain cautious procurement strategies due to uncertain finished steel demand and margin pressures. Regional price divergence may continue, particularly if auction volumes remain inconsistent and flat steel prices sustain at current levels.

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