Industry Trends · 6 Nov 2026Editor’s Pick
The year India's steel mills stopped needing the world's scrap
For decades, the price a furnace in Mandi Gobindgarh paid for scrap was really decided somewhere else, in a port in the United States, a yard in Europe, on a ship crossing the Red Sea. In the year to March 2026, that quietly ended. India's mills bought a fifth less imported scrap, home-grown scrap undercut the imported grade by thousands of rupees a tonne, and a global price agency began publishing a daily Indian scrap benchmark for the first time. The feedstock India once had to go abroad for is now cheaper in its own backyard.