SteelMint’s domestic steel scrap (end-cutting) index increased by INR 300/tonne (t) to INR 47,800/t DAP Mandi Gobindgarh on 10 August, 2022.
Light melting scrap (LMS) prices were assessed at INR 42,800/t, HMS 80:20 at INR 45,400/t and CR busheling scrap at INR 49,200/t.
The key factors supporting the hike in scrap prices were improved demand for semi-finished steel and limited availability of scrap.
Steel ingots prices in Mandi Gobindgarh also increased by INR 300/t to INR 52,500/t d-o-d at the time of publishing this index.
Market highlights :-
End-cutting scrap and ingot spread: The spread between end-cutting scrap and ingots remains unchanged at INR 6,000/t.
Domestic and imported scrap price gap: Imported melting scrap prices at Nhava Sheva Port were around $455-475/t, while local scrap – HMS(80:20) – in Mumbai was assessed at INR 42,600/t FOR. Scrap imports are preferred by the Mumbai-based mills and those in the nearby regions because domestic scrap prices are higher by about INR 2,000-2,500/t.
Raipur sponge iron-billet spread: The conversion spread (margin) from pellet-based DRI (P-DRI) to billets in Raipur stood at around INR 14,600/t today against the earlier INR 14,700/t.
To see SteelMint’s Melting Scrap Assessment, pricing methodology and specification documents, Click Here
To provide feedback on this index or if you would like to contribute by becoming a data partner, please contact – info@steelmint.com.
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