SteelMint’s domestic steel scrap (end-cutting) index slipped INR 650/tonne (t) to INR 48,250/t DAP Mandi Gobindgarh on 17 August, 2022.
LMS (light melting scrap) prices were assessed at INR 43,300/t, HMS 80:20 at INR 46,000/t, and CR busheling at INR 49,500/t.
The correction in semis and finished prices led to the decline in scrap prices.
Ingot prices in Mandi witnessed a downward correction of INR 400/t d-o-d to INR 52,900/t at the time of reporting.
In Gujarat’s Alang market, shipbreaking melting scrap prices remained stable today, as per SteelMint assessment. HMS (80:20) prices are assessed at INR 45,200/t exy.
Market highlights-
End-cutting and ingot spread: The spread between end-cutting scrap and ingots shrunk by INR 500/t to INR 5,500/t which was earlier at INR 6,000/t.
Raipur sponge iron-billet spread: The current conversion spread (margins) from pellet-based DRI (P-DRI) to steel billets in Raipur stands at around INR 14,150/t.
Domestic and imported scrap price gap: Imported melting scrap prices at Nhava Sheva Port were at around $470/t, while local scrap – HMS(80:20) – prices in Mumbai were assessed at INR 43,300/t FOR. Mumbai-based mills and those in the nearby regions are preferring to import scrap as domestic scrap prices are higher by about INR 3,000-3,500/t.
To see SteelMint’s Melting Scrap Assessment, pricing methodology and specification documents, Click Here
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