Dear Customers,
To provide a more comprehensive reflection of India’s hot-rolled coil spot market, enhance market transparency and reduce trading risks for market participants, SMM, after extensive market research and industry feedback, has decided to launch a new weekly price assessment for HRC SAE1006 3.0×1250×C EXW Mumbai, effective 31 August 2026.
Mumbai is one of India’s most important steel trading and consumption centres. The new assessment will reflect prevailing spot-market transaction levels for SAE1006 hot-rolled coil available in the Mumbai market and provide an independent pricing benchmark for steel producers, traders and downstream consumers.
This initiative represents an important step in strengthening SMM’s coverage of India’s domestic flat-steel market and will support procurement negotiations, contract valuation, market analysis and cost accounting.
Details of the New Price Assessment
| Definition | Specification | Grade | Unit | Quality Standard | Main Brands | Minimum Quantity |
| EXW Mumbai | 3.0×1250×C | SAE1006 | USD/tonne | SAE J403 | JSW Steel, Tata Steel, AM/NS India, SAIL, Jindal Steel, etc. | ≥5,000 tonnes |
Common Standards and Parameters
- Delivery Time: Within 2–8 weeks.
- Publication Time: Weekly, every Wednesday at 12:00 PM India time.
- Payment Terms: L/C at sight, settled in USD. Other payment terms are subject to standardization.
Methodology Note: The above price is an objective spot-price assessment derived by SMM through extensive first-hand market research and actual transaction data. It is formulated and published strictly in accordance with the SMM pricing methodology to accurately reflect mainstream spot transactions and offers under the specified delivery location, specification and trading terms. Should you have any inquiries or suggestions regarding the price assessment, please feel free to contact us.
Shanghai Metals Market (SMM)
Steel Research Team
14 August 2026