SteelMint’s domestic steel scrap (end-cutting) index rose INR 400/tonne (t) to INR 45,600/t DAP Mandi Gobindgarh on 13 September, 2022.
Steel ingots prices in Mandi Gobindgarh increased by INR 400/t d-o-d to INR 50,500/t at the time of reporting and price normalisation.
Scrap prices increased on account of increase in semis’ prices although trades in the semi-finished and finished steel markets remained limited. Only offer prices were revised throughout the day.
Shipbreaking melting scrap prices in Alang, Gujarat, rose by INR 300/t d-o-d on 13 September. HMS (80:20) prices are assessed at INR 43,500/t exy, as per SteelMint assessment.
HR strip (patra) prices rose by INR 600/t ($8/t) d-o-d in Mandi Gobindgarh, while prices remained stable d-o-d.
Market highlights-
End-cutting and ingot spread: In Mandi, the end-cutting scrap and ingot spread remained unchanged today at INR 5,800-6,000/t.
Domestic and imported scrap price gap: Imported melting scrap prices at Nhava Sheva Port were at around $455-470/t while local scrap – HMS (80:20) – prices in Mumbai were assessed at INR 39,200/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 15,200/t.
To see SteelMint’s Melting Scrap Assessment, pricing methodology and specification documents, Click here
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