Dear Customers,
To expand SMM’s coverage of the international billet and ingot market and provide greater price transparency and reduce trading risks for market participants. SMM will launch total six (four billet and two ingot) daily India’s domestic price assessments on 25 August 2026.
The new assessments will reflect prevailing spot-market transaction levels for Mandi, Chennai, Raipur, Durgapur and Ludhiana for billet and ingot EXW and delivered. The assessments will be based on information collected from suppliers, traders, steelmakers and other active market participants, including confirmed transactions, bids and offers that meet or can be normalized to SMM’s assessment specifications.
This initiative represents an important step in strengthening SMM’s coverage of India’s billet and ingot market and will provide independent benchmarks for procurement negotiations, contract valuation, market analysis and risk management.
Details of the New Price Assessments
|
Price assessment |
Price definition |
Quality standard |
Delivery basis |
|
Billet MS 100*100 delivered Mandi |
Billet MS 100*100 delivered Mandi, INR/tonne |
IS 2831:2012 |
Delivered Mandi |
|
Billet MS 100*100 delivered Chennai |
Billet MS 100*100 delivered Chennai, INR/tonne |
IS 2831:2012 |
Delivered Chennai |
|
Billet MS 100*100 delivered Durgapur |
Billet MS 100*100 delivered Durgapur, INR/tonne |
IS 2831:2012 |
Delivered Durgapur |
|
Billet MS 100*100 EXW Raipur |
Billet MS 100*100 EXW Raipur, INR/tonne |
IS 2831:2012 |
EXW Raipur |
|
Ingot MS 3.5*4.5inch EXW Mandi
|
Ingot MS 3.5*4.5inch EXW Mandi, INR/tonne |
IS 2831:2012 |
EXW Mandi |
|
Ingot MS 3.5*4.5inch EXW Ludhiana
|
Ingot MS 3.5*4.5inch EXW Ludhiana, INR/tonne
|
IS 2831:2012 |
EXW Ludhiana |
Assessment Specifications
- Assessment frequency: Daily on Indian working days
- Information-collection window: 13:00–14:00 India Standard Time
- Publication time: 15:00 India Standard Time
- Currency and unit: INR/tonne
- Minimum cargo size: 20-100 tonne
- Shipment period: Within 10-15 days
- Payment terms: Settlement in Cash INR, or other standardized payment methods
- Tax basis: Exclusive of applicable taxes and duties
Mild-steel (MS) cast billet, 100×100 mm, manufactured in accordance with IS 2831:2012 (carbon-steel cast billets for re-rolling into ordinary-quality structural steel). The billet is controlled principally by chemical composition — Carbon (C) ≤0.25%, Manganese (Mn) 0.50–1.00%, Sulphur (S) ≤0.05%, Phosphorus (P) ≤0.05%, Nitrogen (N) ≤0.012% — so that the re-rolled structural steel meets the mechanical requirements: yield strength (ReH) ≥250 MPa, tensile strength (Rm) 410–540 MPa, and elongation after fracture (A) ≥23%. Suitable for re-rolling into reinforcement bar, sections and other ordinary-quality structural products.
Mild-steel (MS) cast ingot, 3.5×4.5 inch (rectangular), manufactured in accordance with IS 2831:2012 (carbon-steel cast billet ingots for re-rolling into ordinary-quality structural steel). The ingot is controlled principally by chemical composition — Carbon (C) ≤0.25%, Manganese (Mn) 0.50–1.00%, Sulphur (S) ≤0.05%, Phosphorus (P) ≤0.05%, Nitrogen (N) ≤0.012% — so that the re-rolled structural steel meets the mechanical requirements: yield strength (ReH) ≥250 MPa, tensile strength (Rm) 410–540 MPa, and elongation after fracture (A) ≥23%. Suitable for re-rolling into reinforcement bar, sections and other ordinary-quality structural products.
SMM will prioritize confirmed arm’s-length transactions, followed by firm bids and offers and corroborated market indications. Reported information may be normalized for differences in origin, grade, destination port, quantity, shipment period and payment terms in accordance with the SMM price methodology.
Total six (four billet and two ingot) assessments will be published under Square Billet and Rectangle Ingot from 25 August 2026.
SMM welcomes feedback from market participants regarding the new assessments.
Shanghai Metals Market (SMM)
Steel Research Team
21 August 2026